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Office| Milan and Rome Q4 2020

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Looking at the data for the second half of 2020, take up activity confirms the sharp slowdown in the occupier market compared to the same period of last year. This is the result of the lockdown period in the spring which did not allowed the search for new office spaces to begin. Furthermore, companies are wondering what type of spaces they will need, especially in light of the increase in employees who will work in smart working. Take up volume in the fourth quarter was better than in the previous one since large transactions were recorded in the two cities, both from the public administration.
Outside of these transactions, there is a very wait-and-see approach from the companies. Therefore, in the coming quarters we expect an increase in the renegotiation of existing contracts and a search for less space than the one currently occupied, due to a more efficient use of space.

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Office| Milan and Rome Q4 2020

Download Report