3Research pieces indexed
Latest Dec 31, 2025
Global Real Estate Intelligence is a neutral index of publicly available research. All rights in Dils’s work remain with Dils; we link to the original.
The Italian real estate market recorded €12.4 billion in investment volume during 2025, representing the highest level in six years and a 23% annual increase from 2024, with particularly strong performance in retail (€3.4 billion, up 39% year-over-year), hospitality (€2.4 billion), logistics (€2.2 billion), and living sectors (€1 billion, up 70%), alongside recovery in office investments (€1.9 billion) driven by core deals in Milan and Rome. Milan office take-up reached 405,000 sqm with prime rents rising to €850/sqm/year, while student housing investments doubled and the living sector achieved over 70% growth compared to 2024, reflecting strong investor confidence across multiple asset classes.
The Dils Research Team's Q3 2025 report documents Italian real estate investment activity, recording €2.6 billion invested in the third quarter and €8.0 billion over the first nine months of 2025 (a 21% increase versus 2024), with Retail sector performance reaching its best result in five years at €1.1 billion quarterly and €2.2 billion year-to-date. The report covers sector-specific findings including Hospitality's €2 billion year-to-date investment (56% increase), Logistics space absorption of 665,000 sqm in Q3, Office sector decline of 29% year-to-date, Living sector recovery to €650 million year-to-date, and residential sales market growth of 8.1% in Q2 2025 with 201,344 transactions nationally.
Dils' Q1 2025 analysis of the Italian real estate market reports total investments of approximately €2.7 billion, a 44% increase versus Q1 2024, with the Hospitality sector leading at €660 million and Logistics at €640 million. Rome's office market recorded take-up of 34,000 sqm with prime rent reaching €610/sqm/year, while Milan's office sector saw 105,000 sqm take-up and stable prime rent at €775/sqm/year, with national prime logistics yields declining to 5.30%.
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