Continue in the first quarter of 2014, the recovery of foreign investments in Italy
April 28, 2014
The good time of the Italian real estate - which, it should be remembered , did not boot to the recovery of prices, but is back in the crosshairs of international investors precisely because the country is " distressed" - translates into a good result of transactions in the first quarter , 2014. investment volumes in the first quarter of the year , in fact, increased by 16 % compared to the same period last year , amounting to € 720 million is what emerges from a study of Cbre.Driver of operations is the available liquidity , albeit to a lesser extent than the markets of Spain and Ireland - these days the news that the sovereign wealth fund of Qatar has bought a stake of almost 9% in the Spanish Colonial and 8 , 55% in French Société Foncière Lyonnaise - , and quotes . " Despite the return of generalized euphoria - explains Paolo Bellacosa , executive director for CBRE Capital Markets in Italy - we must not forget the profile of investors active today , attracted mainly by the terms of repricing in place . The core interest of investors is not lacking, but the fragility of the macroeconomic fundamentals of the country has a negative impact on the availability of product and slows the entry of a larger number of investors. Therefore any euphoria , which could cause a short hike expectations prices could again block the transaction . " Over the last 15 months , there were large operations such as the entry of the New Gate in Qatar , with 40 % of the capital , and total foreign investment in the Italian real estate sector have reached 4 billion. Among others, the American fund of George Soros Quantum Strategic Partners has acquired a 5% stake in the listed Italian Siiq IGD . They are on the agenda news on negotiations with foreign counterparts , such as Blackstone, Cerberus , Apollo, Lone Star , Orion and Soros to name the greatest , as well as Tristan Benson and Elliott with smaller size , looking at portfolios and generally to asset written down so significativo.Il total real estate investment in Europe reached 37.9 billion in the first quarter of 2014 (+18% compared to the first quarter of 2013 ) . The highest growth was recorded in the markets of Austria ( +183 % ), Ireland ( +179 % ), Spain ( +132 % ) and Finland ( +103 %).