Italian real estate funds are set to increase in value from EUR 34.7 bn in 2008 to EUR 39 bn by the end of 2009, according to the latest research report by Italy's research institute Scenari Immobiliari. This represents an increase of 11% and 17% compared to 2008 and 2007 respectively.
Italian real estate funds are set to increase in value from EUR 34.7 bn in 2008 to EUR 39 bn by the end of 2009, according to the latest research report by Italy's research institute Scenari Immobiliari. This represents an increase of 11% and 17% compared to 2008 and 2007 respectively.
The funds have returned 4.9% in average last year, a decrease from returns of 6.2% in 2007. However, the figure compares to a European average of 3.7% for 2008 (and 4.3% in 2007).
At end 2008, the number of funds operational in the country has risen by 28% to 238 funds, and Scenari Immobiliari envisages that the total number of funds will reach 250 by the end of this year.
'The numbers are positive despite the crisis in the real estate sector,' said Mario Breglia, president of Scenari Immobiliari, pointing out that the number of real estate funds has risen 11-fold in the country since their introduction 10 years ago.
