ITALY BRIEFING: Foreign investment in Italy doubles in 2013

Italy saw €3.6 bn of cross-border property investment in 2013, more than twice the amount in 2012, CBRE told the PropertyEU Italy Investment Briefing.

More than €1.3 bn came from North America and a similar amount from within Europe, according to CBRE data.

Almost €900 mln came from the Middle East and Asia, with Qatar alone spending €787 mln.

In May last year, PropertyEU revealed that Qatari investors had bought 40% of the flagship Porta Nuova mixed-use development in central Milan from Italian fund manager Hines.

The trend for foreign investment appears to be continuing into 2014, with 48% of the roughly €700 mln in commercial real estate deals done in Q1 coming from abroad.

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