Real estate funds are aiming high and, at the end of the first half of 2003, saw their total assets stand at 3,899.7 million euros, one step away from the threshold of 4 billion euros. In percentage terms, the growth recorded was 30% compared to the same period in 2002, and 15% compared to the previous semester.
This is an excellent result which demonstrates how Italian savers are increasingly approaching these managed savings tools which allow them to invest in the real estate sector and diversify their portfolio.
The percentage of fund assets invested in real estate and real estate rights grew in the first half of 2003 and stood at 74.4% (69.9% at the end of 2002). This figure would be higher if the indirect purchase of properties through shareholdings in real estate companies, carried out by some funds, was taken into account.
The north-west of the country is confirmed, once again, as the geographical area in which the majority of properties held by the funds are present (47.9%). In second place is the center (36.1%), followed by the north-east (11.1%). The south and the islands close the ranking of geographical areas (2.8%). Foreign countries, on the other hand, 'host' 2.2% of the properties held by the funds.
source: Real Estate Observatory
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