Office real estate in Italy - statistics & facts

Office real estate is a subsector of non-residential, also known as commercial, real estate. This subsector includes any office building, from skyscrapers located in so-called central business districts (CBD) in the largest cities to suburban office spaces. The number of office units in Italy exceeded 633,000 in 2021, with the majority of them located in the northwest of the country. The region counting the highest number of office spaces is Lombardy, which is also the region with the highest number of inhabitants and the largest GDP in the country.

Importance of the office real estate sector

Office real estate is particularly popular with investors, both domestic and foreign, as it generally provides secure and large returns, especially in big cities. Office real estate investments in Italy accounted for a substantial share of all investments in the commercial real estate sector in the country in 2021. Milan and Rome appear to be the most dynamic markets for office real estate among Italian cities, boasting the largest number of transactions and attracting the vast majority of investments in the office real estate sector.

Office space in Italy’s smaller cities

Due to generally higher quality of living and lower costs, however, small cities can be attractive too, both for employers and employees. Verona and Venice, for instance, saw the largest increase in office real estate transactions among Italian cities in 2020. The price of office spaces is generally higher in larger cities, but that is not the case in Italy. Milan and Rome, in fact, appeared second and third respectively in a ranking of the most expensive Italian cities for office space. This list was led by Venice, where office units could fetch on average 3,800 euros per square meter in 2021.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Sep 6, 2022

Key insights

Existing office units
630.9k
Number of office real estate transactions
12.4k
Region with the largest office real estate stock
Lombardy
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Editor’s Picks Current statistics on this topic

Prime rent for office real estate in Milan, Italy, from 2013 to 2022 (in euros per square meter per year)

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Prime rent of office real estate in Milan, Italy 2013-2022

Average price per square meter for office spaces in Italy from 2019 to 2022, by macro-region (in euros)

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Average price per square meter for office space in Italy 2019-2022, by macro-region

Prime headline rent for office real estate in Rome, Italy from 2013 to 2022 (in euros per square meter per year)

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Prime rent of office real estate Rome, Italy 2013-2022

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