The office real estate market in Italy, current trends. - Interimmobiliagency
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The office real estate market in Italy, current trends.





In recent years, the Italian real estate market has gone through several transformations, influenced by economic, social and technological factors. The office sector, in particular, has shown interesting dynamics and potential recovery in the medium term, both in the sales and rental segments.

Office real estate recovery is in big cities

Large cities such as Milan, Genoa, Turin and Rome continue to be major centers of attraction for business activity. Demand ranges from modern offices to historic premises that always preserve charm and sophistication. Cities have seen an increase in investment in high-quality real estate, with a focus on green and certified buildings.

The office sales real estate market

The office sales market is showing signs of recovery. In Milan, office sales prices have been rising, averaging around 4,000-5,000 euros per square meter in central and well-connected areas.
Rome has more variable prices, with an average of 3,000-4,000 euros per square meter in the most prestigious areas.
Office prices in Genoa are relatively low compared to other major Italian cities.The average price per square meter is around €1,560, with peaks of €2,660/m² in the Albaro area.
The demand for office space in Genoa is driven by several factors, including the redevelopment of the old port and the city’s growing attractiveness as a tourist and commercial hub.
In Turin, there is an increase in demand for small and flexible offices, in line with new hybrid work trends. Companies are looking for spaces that are functional and easily adaptable to different work needs.
This positive trend is supported by growing investor confidence, attracted by the stability of the Italian real estate market and opportunities for attractive returns.

The office rental real estate market

In parallel, the office rental market has seen greater flexibility in contracts and proposed solutions. Pandemic has introduced an acceleration of coworking practices and flexible spaces, with companies seeking to reduce fixed costs and adapt to new modes of operation.

In Milan, the average rent for office space in central areas ranges between 400 and 600 euros per square meter per year. In Rome, prices are slightly lower, averaging 300 to 500 euros per square meter per year in the most central areas. These values are indicative and can vary significantly depending on location, building quality, and services offered.

In Genoa, the office market shows an increase in demand supported on the one hand by the redevelopment of the historic center and on the other by the emergence of new areas of interest such as the Waterfront. Prices have with an average of 300-500 euros per square meter per year.

In Turin, the office rental market is dynamic, with demand concentrated both in the city center and in suburban areas.
In the city center offices are in demand because of their strategic location and proximity to services, and prices are around 400 euros per square meter. In suburban areas where modern office buildings with cheaper rents are located, demand is growing. The Porta Susa and Lingotto areas are attracting businesses thanks to urban redevelopment projects.

Forecast for the future

Despite the current challenges, the office real estate market in Italy has the potential to recover in the medium term. Flexibility and sustainability will be key factors for success in the future of this market.
Companies are becoming increasingly demanding about the spaces they occupy, seeking environments that foster collaboration, employee well-being and energy efficiency. Balancing supply with changing demand will be necessary.

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