After three years of growth, with 2017 a record year, in the 2018 the Italian real estate market slowed significantly.
However, there is optimism about the prospects for 2019, due to the awareness of a very clear concept: Italian real estate is far below its potential and the market could be up to three times greater than it is at present.
In 2018 the number of real estate deals in Italy declined by approximately 22%
The main reason was the political uncertainty that caused a chain reaction - an increase in the spread and a slowdown in credit availability
The second factor was a certain lack of product, especially for logistics, hotels and offices.
2018 was not a completely negative year. The tenant market reached an all-time high in Milan, with 400 thousand square metres, reporting excellent figures for Rome as well.
Logistics showed a comforting trend and should be almost in line with 2017 excluding extraordinary items.
The hotel segment was also substantially unchanged but we are convinced that it will really take off again this year.
For 2019 it is expected to see a year that is either unchanged or better than 2018
The key sectors will be logistics and hotels, while for retail there will not be significant growth but rather a careful selection: those able to do so will be able to find interesting opportunities because prices have gone down.