According to the Non-Residential Real Estate Report 2023 on real estate for tertiary, commercial, and production purposes carried out by the Real Estate Market Observatory of the Internal Revenue Service with the cooperation of the Italian Leasing Association (Assilea), the nonresidential sector is growing: in 2022 more than 13 thousand offices (+7.6% compared to 2021), 39 thousand stores (+4.7%), and more than 16 thousand units in the production sector, (+6.9%) were sold. The total estimated exchange value amounts to 18.2 billion euros, 8.5% more than in 2021. Stores account for more than a quarter of the sector’s stock and the segment with the highest exchange volume with nearly 39 thousand transactions.

Last year, more than 68 thousand units including stores, offices and warehouses were bought and sold in the three areas. The estimated exchange value amounted to 18.2 billion euros (+8.5% over 2021): the most significant increase is recorded for offices (+27.9%) and particularly in the Northwest and Central macro-areas. Again with regard to offices, the increase in transactions is recorded throughout the country but is more pronounced in the North-Center areas (between +6.6% in the Northeast and +11.6% in the Center) while the South (+1.0%) and the Islands (+2.8%) maintain substantial stability. On the other hand, as far as stores are concerned, more than 30 percent of national purchases and sales are concentrated in the Northwest, while the most significant rates of change were recorded in the Islands (+9.4 percent over 2021) and the South (+8.1 percent). Nationally, the average annual listing for offices is around €1,330/square meter; that for stores at €1,420/square meter. For real estate in the production sector, on the other hand, it is around €450/square meter.

A slight slowdown is reported for real estate leasing, but growth in “to be built,” Central Italy and the Northeast – In 2022, 3,105 real estate leasing contracts worth 2.8 billion euros were signed. After the increase recorded in 2021 (+9%), the market in 2022 reported overall a slight decline (-3.4%) due to the international economic situation that is not favorable to investment, but with positive signs for real estate to be built (+5.6%), the industrial sector (+0.8%) and some geographic areas such as Central Italy (+12%) and the Northeast (+1.3%).Also positive is the result of the “top 5” real estate leasing market, which in 2022 recorded solid growth (+8.5%).

“Built” real estate leasing, after registering a double-digit increase in 2021, saw a decrease of 9.2 percent. From the perspective of intended use, leasing on industrial real estate, which accounts for 56.5% of the market, reports slight growth (+0.8%), while leasing transactions on commercial real estate, which accounts for 24.9% of the market, decreased by 8.7%. In sharp decline (-26.2%) are transactions on office properties, which account for 10.1% of the real estate leasing market. Turning to the analysis by geographical area, in the Northwest, where 36.1 percent of financing was concentrated, there was a 9.8 percent decrease from the previous year. In the Northeast (36.2% of the total) there was a 1.3% growth. The best growth rate (12.6 percent) was observed in the Central regions (18.9 percent of the total), while in the South (6.7 percent of the total) there was a decrease of 7.7 percent, and in the Islands (2.1 percent of the total), the decline was even more significant (-42.8 percent).

Source: https://www.agenziaentrate.gov.it/portale/web/guest/schede/fabbricatiterreni/omi/pubblicazioni/rapporti-immobiliari-non-residenziali