Take-up in 2017 came in at 370,000 sqm and was up by 21% compared to last year and in line with the record result of 2015.
The year was characterized by a continuing rise in transaction volumes in all quarters and ending with 94,000 sqm in Q4, posting growth of 48% compared to the previous quarter and of 9% on the same period of 2016.
In the fourth quarter prime rents in the CBD reached 550 Euro per sqm pa, up 10% on Q4 2016 and equal to the period 2008-2009.
Development activity has been improving and in December pipeline deals amounted to 400,000 sqm with delivery expected between 2018 and 2020. 70% is of a speculative nature.
Investment volume in Milan totalled 970 million Euro, up by 7% on the same period of last year and by 85% on the previous quarter.