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The Research Team of Dils, a leading company in the real estate services market with over 50 years of experience, has published an analysis of the Italian real estate sector in the fourth quarter of 2023.

With an investment volume of 2.6 billion euros, the fourth quarter of 2023 has proved to be the best of the year, highlighting a growth of over 70% compared to the previous quarter and exceeding by roughly 14% the same period in 2022. Since the beginning of the year, total investments reached 6.2 billion euros, half the volume recorded in the previous year, which has been one of the greatest historical successes in the Italian market.

The Logistics sector takes the lead in real estate investments with a total of 1,6 billion euros. In the fourth quarter, investments amounted to 650 million, thereby confirming the sector as the first asset class with a 27% share of the total. With an absorption of spaces of 680,000 square meters in Q4, 2023 concludes with an increase in the take-up level of 5% compared to 2022, a new record for the Italian real estate market.

The fourth quarter highlights higher growth in the Offices, Hospitality and Retail sectors. Although far from the record results of 2022, the Offices sector is again expanding, recording an investment volume of 630 million euros, thanks to the contribution of a great deal in the CBD of Milan. Furthermore, the Hospitality and Retail sector had the best quarter of the last two years, with almost 600 million and 460 million euros of investments, respectively. For the Alternative sector, the Healthcare segment stands out for its investment growth (about 600 million euros) which has more than doubled the result of 2022 and significantly increased its weight in the Italian market, from 2% to 10% of the total invested capital.

According to Dils research, the next 12 months will be characterised by the stabilisation of investments in the more consolidated sectors of Logistics and Offices and the development of other sectors related to macroeconomic and social trends, including Healthcare, Wellbeing, and Infrastructure. Further progress will be made towards a greater hybridisation of residential and office spaces and to better adapt to Environment, Social and Governance (ESG) standards.