A year and a half after the outbreak of the pandemic, what is happening to real estate investment in 2021? And what are the prospects for the future? The Ipi Group, which specialises in real estate consultancy, services for investors and institutional, corporate, and private operators, including the real estate technical services company Agire, provides idealista/news with an overview of the situation.
On the real estate investment front in 2021, the spotlight is on logistics, data centres, and the residential sector. But these are not the only areas of interest. There is a growing trend among investors to diversify their investments across different asset classes. In addition, the post-pandemic has created new needs in working and housing. In this new landscape, there is a growing focus on sustainability and a substantial reformulation of working and living spaces. How does that affect the real estate market? Here is what the Ipi Group explained.
On the property investment front, what is happening a year and a half after the outbreak of the pandemic?
"The dramatic nature of the pandemic, which has heavily influenced overall economic trends, has only partly been reflected in real estate trends and the sector has managed to contain the downturns, albeit in a differentiated manner, in both the retail and corporate markets".
Has real estate investment changed?
"While optimism in the housing market has led to an immediate rebound, the situation on the corporate front, where the pandemic-induced downsizing has been more pronounced, is more controversial. Figures for the first half of 2021 showed investments of EUR 2.9 billion, a drop of around 11.4% compared to the first half of 2020 and 23.8% compared to the average of the last five years. This performance highlights the intensification of investor uncertainty, especially towards certain asset classes that used to 'drive' investment: office and retail.
Are there any segments that attract more interest than others?
"Logistics, data centres, and the residential sector are all growing strongly in terms of investment. The increase in e-commerce volumes is certainly one of the main factors driving the focus on logistics. Investors are also taking a closer look at the infrastructure market (data centres and telephone exchanges), which is playing a strategic role in view of national digitalisation programmes.
What are investors demanding today?
"After the caution shown in the last period, there is optimism but, at the same time, the trend towards diversification of investments across different asset classes has strengthened. This stratification is now much more varied than the average of the last few years".
What trends do you think we are facing?
"At this moment in time, the health emergency has changed the way we see housing and offices. We have a global vision of the Italian market and we can say that needs vary from area to area, but at the moment there are common requirements across the board: customers are asking for more space because they need privacy at work. Smart working has become a daily routine, the need for space is a must for new residential and office requests. Post-crisis scenarios envisage a radical reorganisation of spaces and flows for all uses. In this scenario there is a growing focus on 'sustainability' and a substantial reformulation of spaces 'for working' and 'for living'. Significant design efforts will be needed to meet the challenges posed by the new working and living needs".
And what are the future challenges?
"The Ipi Group, through all its companies and business divisions, intends to continue to respond adequately to market demands triggered by new requirements in both the residential and corporate contexts".
What is AGIRE and what does it do?
"Agire S.p.A. is the real estate technical services company of the Ipi Group. Thanks to its specialist skills in every field of real estate, an integrated concept of technical services and a multidisciplinary team of professionals, AGIRE is able to work alongside the client at every stage of the real estate investment, ensuring a tailor-made service characterised by a thorough overview of the project. In particular, Agire manages real estate assets on behalf of institutional and private clients and assists investors and companies in the design and implementation of real estate projects".
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