Italy Capital Markets Market Dynamics, Q2 2026

In H1 2026, investment volumes in the Italian real estate market reached approximately €7.8 billion (+34% YoY), including developments and share deals.

International investors accounted for 75% of total investment volumes, exceeding the 10-year average. Private wealth investors deployed approximately €1.7 billion, representing over 20% of total volumes, primarily driven by a landmark trophy mixed-use retail and office transaction.

Prime yields remained broadly stable at 4.0% for Milan offices, 4.5% for Rome offices, 6.5% for shopping centres, 4.0% for high street retail, 7.0% for retail parks, 5.3% net-on-net for logistics, 4.5% for multifamily and 5.75% for healthcare.