Absorption came to over 380,000 sqm, beating the all-time high seen in 2017.
The number of deals closed in Milan in Q4 fell by approximately 25% compared to Q3;
Take-up was driven by the Business Services sector (34.9%), followed by the Manufacturing and Financial sectors (22.4% and 18% respectively). Year over year the Consulting and Co-working segment accounted for over 60% of the absorption in the Business Services sector.
The submarkets that performed best in terms of sqm absorbed were the Historic Centre (29%) and the Periphery (24%)
Prime rents in the CBD, Porta Nuova and the Hinterland rose to 570 €/sqm/p.a., 550 €/sqm/p.a. and 210 €/sqm/p.a. respectively.
The net yield on prime and good secondary premises remained stable at 3.4% and 5.0% respectively.
Compared to Q3, investments in the Milan office sector grew by 31.6%.