The fifteenth edition of the Real Estate Observatory of Logistics – first half of 2013 published by World Capital, company specialized in real estate consulting, shows that the logistics market of real estate is split between a northern Italy that maintains stable values and a South that undergoes an inflection in the prices.
Indeed, we can say that the market is still confronted with the global economic situation that affects investments in 2011. We also note that the constant phenomenon of “repricing” is extended over six months and, in some areas where rents and prices are very competitive for a long time, it is even more pronounced.
• Purchase: confronting the second half of 2012, regarding newly built logistic properties, it is registered a meager decrease of 2% in Central part of Italy, 1.7% in Islands and 0.5% in Northern parts, while prices in south are stable. Same trend is observed regarding aged logistic properties followed also in north by dropping 1.6% in prices. Variation in sales prices of recently built properties are mostly observed in cities like; Turin (660-845 €), Livorno (740-870 €); Firenze (800-900 €); Catania (675-730 €). In view of aged logistic properties, cities such as Turin (460-610 €), Padua (505-670 €), Udine (520-660 €), Rome (480-650 €) .
• Lease: logistics real estate market, In view of annual lease prices, has experienced a different trend. regarding newly built logistic properties, supreme drop in lease prices is registered in south of Italy reaching up to 4%. In central parts prices diminution passes 3%, while in north and islands market has remained almost stable. Concerning aged properties prices are almost the same as the last semester with a meager increase in Islands pertain to 2%. Annual lease prices of newly built properties are remained almost stable with a slight decrease in Novara (35-41 €/mq), Milan (47-55 €/mq), Bologna (42-50 €/mq), Udine (40-46 €/mq) and a slight increase in Genoa (50-63 €/mq), Livorno (43-52 €/mq), Bari (32-40 €/mq) and Palermo (39-44 €/mq). Regarding aged properties decrease in annual lease prices is more visible, especially in Parma (31-38 €/mq), Bologna (35-42 €/mq), Livorno (36-44 €/mq), Rome (35-46). However, in cities such as Piacenza (30-38 €/m2), Napoli (30-38 €/m2) and Catania (32-43 €/m2) a meager increase of 2% is registered in the second semester of 2013.
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