Dils puts Italian real estate investment at €10.6bn in first nine months of 2026

Italy's real estate market attracted approximately €10.6 billion ($11.85 billion) in investment in the first nine months of 2026, according to Dils research reported by IREI.

The figure is 30 percent higher than the same period in 2025 and 62 percent above the average for the first nine months of the past 10 years.

Dils describes the nine-month total as the strongest result of the past decade for that period.

Third-quarter volume reached approximately €3.1 billion ($3.46 billion), 18 percent higher than the same quarter of 2025, after what the analysis calls a strong second quarter. Hospitality and logistics together accounted for around half of the capital invested.

Retail was the leading asset class by volume for the year to date at approximately €2.9 billion ($3.24 billion), up 29 percent on the first nine months of 2025. That is 27 percent of total investment volume, and Dils calls it the strongest retail result of the past decade for the January-to-September period.

In the third quarter, retail drew approximately €610 million ($682 million), concentrated in the shopping center segment, which accounted for around €420 million ($469 million), or 70 percent of the sector's quarterly total. The analysis attributes the period's performance in particular to the sale of a portfolio of three shopping centers.

Set against each other, the reported shares show retail at 27 percent of volume and hospitality and logistics at roughly half, so the single largest asset class is worth about half as much as those two sectors combined.

The $469 million of shopping center deals in the third quarter works out to roughly 14 percent of the $3.24 billion retail drew across the full nine months.