Office Snapshot Q1 2020
The Office Q1 snapshot highlights the key figures and insight for the Italian market
Overall, the way we live and work is changing and some of the emerging new trends will become part of the “new normal”. At the same time, many of the familiar pre-COVID-19 structural trends will be reinforced and will continue to shape the real estate sector. Despite the current switch to mass remote working, the physical office will maintain its importance for facilitating interaction and collaboration and, ultimately, for employees’ health, well-being and productivity.
In Q1 2020, the office sector was the most dynamic one, recording 9 transactions, but representing just the 20% of total volumes with around €320 million. The letting market has continued to be active. After the record absorption in 2019, take-up recorded a slowdown but it was still high. Milan was once again the leading market for both leasing and investment.