'The commercial real estate market for businesses: slowing deals for offices, stores and warehouses.'

The economic situation we are in is characterized by weak growth (+0.8% expected GDP growth this year), high inflation that has led to higher interest rates, and declining business and family confidence, which has also affected real estate transactions.

The second quarter of 2023 saw a decline in real estate transactions for manufacturing and storage purposes. Data provided by the Revenue Agency and processed by the Analytical Department of the firm Tecnocasa recorded the following: -3.7% for the manufacturing sector, -11.6% for storage, +2.7% for stores and +0.4% for offices.

The manufacturing sector in particular is experiencing a larger decline, and this trend can be attributed to the difficulties with'The industrial sector has been experiencing in recent months as a result of more expensive credit. Added to this is the decline in confidence of businesses, which are therefore less inclined to buy, especially if they do not have their own capital. In fact, our network reports that almost only businesses that use their own funds are buying. In addition, the warehouse segment has long been experiencing a shortage of supply, especially new construction.

There has been a recovery in the retail segment, which is mainly driven by investors deploying capital into occupied solutions with annual gross returns reaching 10-11% in peripheral''zones and decreasing in the central ones. Tecnocasa agencies note that in the first six months of 2023, the majority of store purchases were made for investment purposes (48.8%). Office purchases have increased slightly. This move is almost always made by users, often free professionals who see an opportunity to reduce prices. This quarter, just as in the previous quarter, our network reports office purchases for conversion to residential use.

Maddalena Auriemma - ITALYITA'S PRINT AGENCYG/h3>