CACEIS, the asset servicing company of Crédit Agricole and Santander, promoted the results of the 21st edition of the Monitor on Real Estate Finance in association with Assoimmobiliare. A total of 10 real estate management companies and 215 real estate funds took part in the survey. The data they provided was analysed by the Permanent Observatory for Real Estate Funds, which is part of the Department of Economics at the University of Parma, led by Professor Claudio Cacciamani.
The aim of the survey, which was financed entirely by CACEIS in Italy – a leading provider of depositary and middle office outsourcing services – is to make a socially important contribution to market research in the real estate sector, confirming CACEIS’ position as market leader.
Members of the Advisory Board for the survey include Giorgio Solcia, Country Managing Director for CACEIS Bank in Italy, Matteo Callegari (Confindustria Assoimmobiliare), Andrea Conso (AC Law), Maurizio Negri (Praxi S.p.A.) and representatives of real estate asset managers active in the Italian real estate market: Paola Fiorini (Savills Investment Management), Sonia Ginelli (Kryalos SGR), Elisa Pizziconi (Kervis SGR) and Gennaro Vairo (Dea Capital Real Estate SGR).
“We are proud to support the University of Parma in this survey which, for more than 10 years, has provided us with a snapshot of how the market is performing in the managed real estate sector. This is crucial for our business as a depositary bank. By financing the Observatory, CACEIS seeks to renew its commitment to supporting financial education and the Academy”, explains Giorgio Solcia.
The survey gives an overview of the value of real estate assets and investments in financial instruments. A picture emerges of a growth sector in FY 2022, which is able to cushion the impact of Italian real estate taxes (IMU and TASI) and inflation. As a result of the countermeasures adopted, various funds have actually increased the liquidity available in order to avoid late payment or non-payment of fees, and thus the need to borrow at a time of rising interest rates. An increase in net liquidity has therefore been recorded relative to total assets. This now stands at 4.2%, compared with 2.57% in the previous year.
