We are leaving behind 2022, an eventful year: war, inflation, energy crises, interest rates. 4 words to define the year and which will continue to shape 2023. The second half of 2022 marked the turning point for the real estate industry: from the “lower for longer” to “higher for longer” interest rate environment. Italy chose a new Government led by a right-wing coalition and for the first time in years investors didn’t react with nervousness, thus avoiding further turbulence on the Country.
It was another strong year for the property sector in Italy mainly led by the record growth in the first half, which partially offset the declining trend in the last quarter of the year.
Occupier and investment markets behaved differently during the second half, with the latter quickly reacting to the worsening of the financial market while the former, strengthening further.
