Precise and trustworthy valuations are fundamental for achieving success in each real estate investment.
The Valuation and Advisory Services department (CBRE Valuation S.p.A), is an independent company within the CBRE group, providing its clients with valuation and strategic advisory services for a wide range of real estate properties. We provide valuation of all types of commercial real estate: offices, retail and industrial property but also housing complexes, land and high end luxury residential estate.
The team boasts particular expertise in the recurring valuation of real estate portfolios for institutional clients and property companies (over 60 real estate funds and portfolios of listed and unlisted companies), as well as in the performance of advisory services. The valuations performed by CBRE are recognised - and generally accepted - by the leading ratings agencies, by CONSOB (Commissione Nazionale per le Società e la Borsa - Italian Securities and Exchange Commission) and by the Bank of Italy.
With the services offered by the Valuations Department of CBRE Italy, we are equipped for carrying out high quality valuations that help our clients to take the right real estate decisions. We hold a position of leadership in the Italian market, together with extensive resources and a deep knowledge of the market.
We understand the business needs of our clients. A large number of commercial and investment banks, listed and non-listed funds, institutional investors, multinationals, private/public client and governmental agencies have used our services to satisfy their business needs. CBRE knows that many of its clients need fast and safe information in order to take strategic decisions. That is why we employ our knowledge and experience in order to apply agile and effective procedures in the gathering and analysis of data. This is a process that enables us to add value and collaborate as an integral part of our clients’ business teams. Our advanced technology, together with our resources for obtaining market information, helps our clients to take more competitive decisions. Our information comes from reliable and complex sources and is backed up by the most complete database of commercial and residential properties.
Our surveyors are familiar with fields such as economics, law and architecture. Many of them are certified by the Royal Institute of Chartered Surveyors. With CBRE, you benefit from our local knowledge and our international approach.
Valuation analysis. According to the client’s needs, we carry out complete or summarised valuations
Valuation for portfolios, loan security and initial public offerings, for M&A and securitisations
Regular valuations for Real Estate Funds
Valuation for large multi-phase developments
Valuation for NPL and financial lease Real Estate properties
Market analysis: market studies are carried out for the office, industrial, residential, hotel and leisure sectors, giving a general idea of demand and supply
Take-up in 2017 came in at 370,000 sqm and was up by 21% compared to last year and in line with the record result of 2015.
The year was characterized by a continuing rise in transaction volumes in all quarters and ending with 94,000 sqm in Q4, posting growth of 48% compared to the previous quarter and of 9% on the same period of 2016.
In the fourth quarter prime rents in the CBD reached 550 Euro per sqm pa, up 10% on Q4 2016 and equal to the period 2008-2009.
Development activity has been improving and in December pipeline deals amounted to 400,000 sqm with delivery expected between 2018 and 2020. 70% is of a speculative nature.
Investment volume in Milan totalled 970 million Euro, up by 7% on the same period of last year and by 85% on the previous quarter.
The fourth quarter reported a record absorption figure of 90,482 sqm, which was significantly higher (+54%) than the figure for the previous quarter.
The number of deals increased further in the quarter (44), up from 37 in Q3 and 27 in Q2; for the whole year of 2017 there was a 20% rise in the number of deals (141 versus 117 in 2016).
The absorption for the quarter was driven by a pre-let in the EUR Torrino area of approximately 43,000 sqm, which accounted for 48% of the total absorption of the quarter, by a prime multinational in the energy sector.
The development pipeline was slightly higher with around 165,000 sqm under construction/ refurbishment expected between 2018 and 2019; there were no completions in the quarter.
Investments in the period came to approximately 125 million Euro, confirming the record trend set for the whole year.
Almost 1.8 billion Euro were invested in Q1 2016, a decline of 6.7% on the same quarter of the previous year.
Quarterly volume confirms 36% more than the quarterly average for the past four years.
At approximately 1.3 bn Euro, foreign capital is still the major driver of Italian CRE investment volume in Q1 16.
European investors lead the quarterly foreign capital (51%), with German on the top of the list.
The office sector, with 46% of total quarterly volume, is still the investors’ preferred asset class while retail follows whit 32%, thus improving its market share compared to previous quarters; the mixed use properties sector (mainly non-core investments to be re-positioned) fell at 6% .
The beginning of 2016 has been marked by an increased cautiousness among investors compared to the end of 2015 but the interest in the Italian real estate is confirmed sound.