2019 marked a new record level for global real estate volumes. According to data published by JLL, the year ended with an investment of $ 800 billion, thanks to a fourth quarter growth of 10% over a year earlier. In this context, the 12 billion euros achieved by the Italian real estate are framed.
The sentiment of the protagonists of the sector remains positive, even if some experts begin to glimpse a slowdown in the cycle. For some, more negative than others, we are approaching the reversal point of a positive cycle that has lasted for several years.
However, 2019 was the sixth consecutive year of real estate asset allocation growth. A growth also dictated by the lack of alternative investment classes to real estate that are profitable. Real estate, even with yields in the compression phase in many countries of the world, remains however interesting also for core investments, with income.
The JLL team is positive for 2020, the demand remains strong, the offer is adapting, the fundamentals remain robust in many markets. In this context, however, the selectivity in the choices remains high.
2018 certified a peak in the volumes of the office segment, but now the situation is more complex. For 2020, expectations are for a slow drop in demand. The global vacancy rate (vacancy rate) remains around 10.7%, but will reach 11.2% in 2020.
Globally, the new offices arriving on the market will reach 19.8 million square meters in 2020. There are markets that experience a sharp drop in office rental fees such as Dubai, Shanghai, Hong Kong and Jakarta, against cities like Berlin and Amsterdam have reached a record high in rental values.
Credit: ilsole24ore