Foreign real estate investment in Italy returns to pre-crisis levels

Sep 18, 2015 231

by Michela Finizio

After Qatar's splashy purchase of the Porta Nuova district in Milan, with an investment of about €900 million to acquire a share of the new skyscrapers, other international deals on Italy's real estate market have followed hot on its heels and reached €2.7 billion in the first six months of 2015. This is more or less the same amount as invested in 2008, before the crisis.

American private equity funds, such as Blackstone and Cerberus, bought up properties "in an opportunistic way," said Daniela Percoco, research & development manager in REAG. They took over empty assets, to be repositioned or valued with a certain risk profile, but with the promise of high returns.

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