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Offices | Italy Q3 2021

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During the first nine months of 2021, the office market in Milan and Rome recorded a good level of take up, giving some positive signs.

 

Key points:

  • The comparison with the third quarter of 2020 is of little significance as the lowest point of the crisis was reached in that quarter.
  • In the last quarter, the spaces absorbed in Milan almost reached the record levels of 2018 2019.
  • The city of Rome is also performing better than last year but still slightly subdued compared to pre-crisis levels.
  • There is a decrease in the supply of office spaces compared to the previous quarter.
  • We expect over 1 million sqm of new supply over the next four years.
  • Grade A premises represents only 30% of the total supply, despite the occupiers' preferences.
  • The average rents have a stronger rising, which has continued since the beginning of the year.

Offices | Italy Q3 2021

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Related Experts

Simone Roberti

Head of Research

Milan

Simone, as Head of Research in Italy, analyses the Italian real estate market in order to support the different business lines. The aim is to support the clients' choices in their investment and disposal decisions through data, analysis and forecasts.

Moreover, various market reports are realised on the different products, asset classes and locations, also in collaboration with the other Colliers research departments.

Finally, Simone is a member of the “Research” INREV Committee since January 2021.

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Dario Marullo

Office Agency

Milan

Head of Office Agency, Italy

More than 15 years of experience in the Real Estate sector, Landlord & Tenant Representation.

Involved in major Leasing Transactions in the Milan market, representing International Landlords and Large Corporations.

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