Not very moved week for the real estate sector on the stock exchange, with the return of meeting of the central banks of September which starts to the conclusion with a sense of stability – perhaps surprising – in the financial markets. Despite the unclear prospects, the conflicting signals of data and the political pressure in the United States, the decisions on this week’s rates have not caused significant volatility in the most general financial conditions.
The cutting of the rates of 25 basic points of the Fed was almost unanimously supported by the members of the FOMC; Only Stephen Miran, whose appointment was confirmed at the last minute by the Senate, voted for a larger intervention of 50 basis points. The Norges Bank presented a mixed package, cutting the reference rate of 25 base points online, but by combining the cut with a Forward Guidance Hawkish. Both the bank of England and the Banca del Japan have maintained unchanged rates. Next week, the series of decisions on rates will end with Riksbank and the Swiss National Bank, which should keep rates unchanged.
The trend of the sector on the stock exchange
The real estate sector has experienced an interlocutory week at European level, with the Stoxx 600 Real Estate index that has not recorded substantial variations, aligning itself with the trend of the Stoxx Europe 600.
A better performance was scored by Italy, where the Ftse Italia All Share Real Estate index showed an increasing performance by 1.4% on a weekly basis, better than that of the FTSE MIB index (flat trend).
Real estate securities listed in Milan
Among the rated real estate companies in Piazza Affari, there was a brilliant week for remediation (+5%) and Brioschi (+5%). Aedes (+3.8%) and PGD (+2%) are also good. Negative to live in (-5%), Gabetti (-3.2%) and Next Re (-0.6%).
Among the listed funds, Dea Capital Real Estate Sgr has signed the definitive purchase contract of the last three sky-score properties of the San Donato Milanese website owned by the Atlantic 1 Fund, an alternative Real Estate Investment Fund of closed type, listed on the MIV segment of Borsa Italiana. The properties were sold at a price of 22 million euros.
Macroeconomic data
On the macroeconomic front, in Italy Istat estimated for the month of July that the decreased index of production in the constructions grew by 0.7% compared to June, returning to grow after the conjunctural drop of the previous two months. According to Eurostat, the decreased production in buildings grew by 0.5% in the euro area and 0.6% in the EU, always in July.
In addition, negative data from the American building market for the month of August have arrived: both the new construction sites and the building permits have been decreased decreased.
Sector studies
During the week interesting data arrived from real estate scenarios, according to which the Italian real estate market is preparing for a 2026 on a strong recovery, almost a boom. After a 2025 that should be closed with a turnover of more than 162 billion euros (+6.8% on 2024), estimates for the next year indicate a new leap forward for over 170 billion euros, with an increase of 8.4%. On the sale front, 2025 will close with about 770 thousand homes sold (+6.9% per year), confirming the solidity of the residential demand, with a provision of 800 thousand for the year that will come. Prices also remain growing: in 2025 the average increase was 3.1 percent, with a prediction of further acceleration in 2026, which should mark up above 4 percent almost everywhere.
