Negative week for the real estate sector on the stock market, in tandem with the general trend of the stock markets. Weighing on investor sentiment were fears regarding excessive overvaluation of the technology sector, despite Nvidia’s positive quarterly performance, with investors still wondering whether the high investments in artificial intelligence could then translate into solid and consistent increases in profits. Furthermore, the chances have increased that the Fed will not intervene with a new rate cut at its December meeting.
The performance of the sector on the stock exchange
The real estate sector experienced a negative week at European level, with the Stoxx 600 Real Estate index recording a decline of 1.3%, still doing better than the -2.1% of the Stoxx Europe 600.
A worse performance was achieved by Italy, where the FTSE Italia All Share Real Estate index showed a decline of 2.7% on a weekly basis, better than that of the FTSE MIB index (-4.3%).
Real estate securities listed in Milan
Among the real estate companies listed on Piazza Affari, a positive week was recorded for AbitareIn (+0.7%). Next Re moved little. Negative Gabetti (-3.5%), Brioschi (-3.6%), IGD (-4%), Risanamento (-4.5%) and Aedes (-6.9%).
Among the corporate announcements, IGD SIIQ (one of the main players in Italy in the retail real estate sector and a company listed on Euronext STAR Milan) has signed a contract for the sale to a local private investor of a shopping center held in Romania for 2.4 million euros; the shareholders’ meeting of Aedes (formerly Restart), a real estate company listed on Euronext Milan, approved the proposal for the attribution of a delegation to the board of directors to increase the share capital by a maximum amount of 5 million euros.
Macroeconomic data
On the macroeconomic front, Istat announced that, after the economic decline in August, in September 2025 construction production in Italy will show a recovery (+0.9%). Despite this, on average in the third quarter there was a moderate decrease compared to the second quarter (-0.6%). In comparison with the previous year, construction production grows both in the raw series and in the series adjusted for calendar effects, recording the ninth consecutive positive result for the latter.
Sector studies
This week, interesting data arrived from the latest FIMAA Italia-Confcommercio survey on the performance of the Italian residential real estate market. During 2025 the average growth in rents will be 4.7% (given that it will also undergo a further acceleration compared to the +4.6% recorded in the first half of the year), the number of new contracts will instead record a slight variation (+0.1%) compared to the levels reached in 2024 (1,010,611 new contracts). In the second quarter, the dynamics that had characterized the housing rental market previously also strengthened: demand in fact recorded growth according to 74.2% of the opinions expressed (and the trend was further accentuated compared to the previous four months), while supply suffered a decline according to 63.3% of the accredited operators interviewed.
Immobiliare.it has analysed, both for large cities and for all provincial capitals, the real estate offer in Italy based on the state of repair of the homes. Catania is the large Italian city that has the highest percentage of properties for sale in need of renovation, equal to 27%, while only 2% of the houses on offer are new or under construction. In second place is Naples, with 23%, and in third Palermo, immediately behind with 22%. Genoa is just outside the podium: in the Ligurian capital, 19% of the homes for sale belong to the lowest state of repair. Moving on instead to the large cities with the greatest offer of new buildings, behind Verona appear Bologna and Milan, second and third respectively with 17% and 14%, while Bari and Venice both stand at 12%.
