JLL. Office Logistic Retail Snapshot Q4 2020
Office Snapshot Q4 2020
The office sector confirmed to be the most dynamic one in terms of investment volumes, representing the 43% of the volumes with around €3.6 bn. Milan confirms to be the leading market for both leasing and investment, accounting for the 63% of the total office investment volume. However, after the record absorption in 2019, take-up recorded a slowdown both in Milan and Rome as uncertainty and disruption remained key concerns in the last 12 months.
Logistic Snapshot Q4 2020
In 2020, the logistics sector presented strong fundamentals: in Italy, the favourable phase of the sector led to record level of both take-up and investment volumes. Moreover, prime net yields compressed in all the key markets reaching their bottom values, while prime rents increased after two years of stability.
Retail Snapshot Q4 2020
The impact of the pandemic was evident in the retail sector. The high street market was the most affected due to the massive use of remote working, more cautious consumers and the absence of tourists in the European capitals. Local shopping centers and retailers continued to see better performances in terms of footfall and sales. In the short-medium term, pressure on rental level for the high street sector will persist; investors remain cautious in committing with this segment of the market but are more confident on mixed-use (office and residential) assets.