Italian Retail Snapshot | Q4 2023
The Italian Retail Market Performance in 2023
- Francesca Fantuzzi
Key takeaways:
The Italian economy is expected to grow by 0.5% in 2024.
Looking ahead, latest market projections indicate an average GDP growth of +0.5% in 2024. inflation is slowing down and there are signals that interest rates will fall towards the end of 2024.
Retail is attracting investor interests on certain dominant schemes.
Despite global geopolitical uncertainty the retail sector continues to weigh on investment activity and there were signs of recovery in Q4 2023 in terms of retail volumes in Italy, with investors looking mainly at out of town.
European retail leasing market continues to be strong with volumes on par with 2022.
Pockets of rental growth have emerged in high street areas that are typically targeted by mainstream retailers, including cities in southern Europe that benefit from tourism, such as Rome and Milan.
