https://www.colliers.com/en-it/news/investment-year-2025
In 2025, investment volumes in Italy’s commercial real estate (CRE) market reached €12.4 billion, marking an increase of approximately 20% compared to 2024 and standing among the highest levels ever recorded.
The market’s strong performance is underpinned by stable macroeconomic fundamentals, which continue to enhance Italy’s perceived reliability. GDP growth for 2025 is expected at 0.6%, while inflation has declined to 1.2% year-on-year, well below the ECB’s target. Country risk perception has improved significantly, with the BTP–Bund spread narrowing to 88 basis points—historically low levels—reinforcing Italy’s appeal to international investors through a lower risk profile and increased political stability.
2026 Market Outlook
Against a backdrop of potential geopolitical normalisation, supported by solid macroeconomic fundamentals and expectations of a more accommodative ECB monetary policy, Italy also benefits from renewed political stability. Market fundamentals remain robust, with a persistent imbalance between demand and supply expected to continue supporting rental growth. Overall, Italy’s strong performance appears structural rather than cyclical. Investment strategies are increasingly focused on sectors offering stable returns and resilient income streams, while more traditional asset classes, such as offices, continue along a path of gradual rebalancing. In a European context where capital prioritises stability and diversification, Italy stands out as one of the most attractive markets heading into 2026, offering a compelling balance of economic strength, real estate performance and investor confidence.