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Italian industrial upswing has further to run

The Italian industrial market made a strong start to 2024, with prime rent growth outpacing the rest of the euro-zone and beating our own forecasts. Rental gains are still expected to slow going forward, but with economic activity in Italy also holding up well and industrial completions set to slow, we think the current surge has further to run and have raised our 2024-25 rent growth outlook in Milan and Rome.

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