JLL: Milan CRE investment volumes up 258% in 2015
In its Global Market Perspective for 1Q16, Jones Lang LaSalle noted that commercial real estate investment volumes in Milan rose by 258% in 2015. Capital values for prime offices rose by 8.9%. Rental yields for prime offices were 4.5%, or 290 basis points above the yield on the relevant long-dated government bond. Rents for prime office space rose by 2.1%. Net absorption during 2015 was equal to 0.9% of existing stock. At the end of the year, the office vacancy rate was 13.4% and the supply pipeline for 2016-17 equated to 2.4% of existing stock.
Source : JLL/ January 2016/Milan/OFF