Italy Industrial Market Dynamics, Q4 2025

Logistics take-up reached 2.4M sq.m in 2025, +7% year-over-year, supported by strong fourth-quarter performance and confirming the market strengthening in the second half of the year.

From a capital market perspective, the market benefited from strengthened interest from Core investors, confirming an improving sentiment reverberating along the risk curve. The sector continues to be supported by structurally solid demand for modern space from logistics and industrial operators.

Investment volumes reached €2.3 billion in 2025 (+30% YoY), with a Q4 distinguished itself as the best quarter in the last three years.