In 2025, corporate investments in Italy totaled approximately €12.3 billion, a 20% increase from the previous year, confirming the positive trend observed since the second half of 2024. Retail (27% of the total) and industrial & logistics (18%) are driving the growth. The positive momentum for the retail asset class continues, exceeding €3.3 billion (approximately €1.1 billion in Q4 2025 alone), supported by large-scale investments. The Italian logistics real estate market recorded €2.2 billion in investments (just under €1 billion in the fourth quarter, the best quarterly result for this asset class). The hospitality sector reaffirmed its central role, posting its best performance since 2019, with transaction volumes totaling €2.1 billion. The office sector neared €2 billion in investments (of which €743 million in the fourth quarter of 2025), with Milan once again taking center stage (65% of office transactions were recorded in the city and its metropolitan area). Foreign investors remained active, accounting for approximately 55% of the total.
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