Italian Logistics Snapshot | Q2 2023
The Italian Logistics Market Performance in Q2 2023
20 settembre 2023
- Francesca Fantuzzi
- The Italian economy is expected to grow by 0.8% in 2023 |In Q2 2023 the Italian economy posted a GDP decrease of -0.4% QoQ while increased by 0.4% YoY. Looking ahead, latest market projections indicate an average GDP growth of +0.8% in 2023. The impact of high inflation and interest rates persists, but there are a few signals of improvement.
- Logistics investment remains subdued |Italian industrial and logistics (I&L) investments experienced a 52% decline in Q2 2023. Despite this setback, I&L maintains its position as the first asset class, in terms of investment volumes, within Italian Capital Markets, and the asset class remains a target for real estate investors due to its enduring market fundamentals.
- Logistics take-up driven by 3PL demand |The Italian logistics occupiers market remained robust in H1 2023, +6% above the 3 years H1 average. Demand was driven by grade A assets and by 3PLs operators, benefitting second-hand assets as well due to a sustained supply-demand imbalance, driving rental growth across prime and secondary locations.