Cremona Light
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CREMONA PROVINCE 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Real Estate Market -1st semester 2013 Lombardy - Italy Copyright © 2013 World Capital. All Rights Reserved. Copyright © 2013 World Capital. All Rights Reserved. CREMONA PROVINCE Real Estate Market -1St semester 2013 Lombardy - Italy Index: Introduction Office real estate market Province and Municipality Lease Trend - Across the Globe Retail real estate market Retail High-street market Industrial real estate market Province Europe prime industrial cities - lease rate Hotel real estate market Hotel & tourism attractions Tourism flows Hotel investment “Appeal” Index Austria Switzerland Slovenia France ITALY 1 Lugano Maggiore lake Como lake lake Varese Idro lake lake Garda lake LOMBARDY REGION 2 LOMBARDY Real Estate REPORT LOMBARDY Real Estate REPORT Lombardy’s GDP Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 GDP GDP 247.051,8 259.431,0 270.653,3 279.450,4 289.471,2 297.600,4 307.717,7 320.843,8 323.973,3 310.952,0 330.997 337.285,9 327.167,3 Millions of euro GDP 27.488,1 28.765,6 29.836,9 30.448,8 31.059,5 31.545,2 32.356,3 33.442,5 33.424,8 31.743,1 33.500 33.624,2 32.615,5 per capita-Euro Source: ISTAT, Italian National Institute of Statistics Provinces of Lombardy Area Municipalities Province Population (km²) (n°) Bergamo 1.098.740 2.723 244 Brescia 1.256.025 4.783 206 Como 594.988 1.288 160 Cremona 363.606 1.772 115 Lecco 340.167 816 90 Lodi 227.655 782 61 Mantua 415.442 2.339 70 Milan 3.156.694 1.575 134 Monza & Brianza 849.636 405 55 Pavia 548.307 2.965 190 Sondrio 183.169 3.212 78 Varese 883.285 1.199 141 Lombardy 9.917.714 23.860,62 Italy 60.626.442 301.340 Source: ISTAT, Italian National Institute of Statistics 3 LOMBARDY Real Estate REPORT LOMBARDY Real Estate REPORT A51 A9 Lugano Maggiore lake Como lake lake A26 A22 Varese Idro lake PEDE lake MONTANA Garda lake BREBEMI A4 A4 A21 Borni- Mortara A1 A7 Regional Road Transport System 4 Cremona Province Cremona's business environment is an interesting mix of leading international players and, for the most part, small and micro enterprises in the agriculture and food processing sectors. These segments have remained economically stable in recent years as they are part of the real economy and are thus less exposed to periodic market fluctuations and international crises. LOMBARDY Real Estate REPORT LOMBARDY Real Estate REPORT Foreign companies percentage by sector Precision mechanics equipment 4,31% 4,31% Food derivatives Metalworking (inc, alloys) 4,31% 2,20% Other professional services 28,36% Other Plastic products 4,31% Transport & logistics 6,51% Metal production 6,51% Electricity, gas & water 6,51% Machinery & mechanical equipment 23,95% Wholesale trading 8,72% Sources: ISTAT, Italian National Institute of Statistics India Nigeria Ukraine Serbia Foreign Citizens Population 2% Tunisia 4% First 10 Nationalities China 4% 4% Sources: ISTAT, Italian National Institute of Statistics Ivory Coast 5% 47% Romania Morocco 13% 17% Albania Cremona’s GDP Trend YEAR 2003 2004 2005 2006 2007 2008 2009 2010 2011 GDP 24.872,70 26.505,80 27.226,70 28.412,10 28.775,00 29.164,30 28.389,10 29.800,70 25.314,70 per capita-Euro Sources: ISTAT, Italian National Institute of Statistics - Unioncamere - G. Tagliacarne institute 6 LOMBARDY Real Estate REPORT OFFICE real estate market Cremona Province - Office Real Estate Value €/m²/year The area has a strong agricultural and breeding industry dating back over a thousand years, a very high level of applied technology and a production level among the highest in the world. Frontella The stock of companies currently registered with the Chamber of Commerce is very stable, and statistics on Milansurplus value per economic sphere reveal that Cremona's agriculture is very important to the regional San Donato economy:Milanese it has the highest percentage of the overall total in Lombardy (4.4%). Orzinuovi Brescia Lodi Pontevico Average annual lease price 150 €/mq 130 €/mq 110 €/mq Codogno- 90 €/mq Pavia 70 €/mq Cremona No office market LEGEND OFFICE CENTRE Piacenza ORIO AL SERIO AIRPORT Parma INFRASTRUCTURE UNDER CONSTRUCTION ACTUAL INFRASTRUCTURE A4 HIGHWAY RAILWAY LINE Viadana Cremona Municipality - Office Real Estate Values €/m²/year Crema Crema 240 €/mq 300 €/mq 220 €/mq 240 €/mq Mantua Mantua 200 €/mq 220 €/mq 180 €/mq 200 €/mq 160 €/mq 180 €/mq 140 €/mq 160 €/mq 120 €/mq 140 €/mq 100 €/mq 120 €/mq 80 €/mq 100 €/mq No oce market No oce market Road Road SS10 Highway SS10 Highway Min annual lease rate Max annual lease rate 17 LOMBARDY Real Estate REPORT 1st semester - 2013 Cremona Province Lease Trend - Across The Globe Lease rate €/sq.m/year € 1400 1200 1000 800 600 400 200 Sao Paulo Rio de Janeiro San Francisco Bogota Vancouver Lima London Brussels Moscow Paris Frankfurt Warsaw Madrid Prague Budapest Cremona Hong Kong Tokyo Beijing Delhi Singapore Shanghai Mumbai Kuala Lumpur Seoul Sydney Melbourne 0 Latin America- America-Canada Europe Asia Australia Growth rates % Beijing 20 Sao Paulo 15 10 Stockholm 5 New York Shanghai London Dubai Frankfurt Rome Cremona 0 -5 Moscow Barcelona Brussels Madrid Paris -10 Hong Kong -15 Vacancy rate % 31% 20 15 10 5 San Francisco Sao Paulo Rio de Janeiro Vancouver Bogota Lima Hong Kong Tokyo Beijing Delhi Singapore Shanghai Mumbai Kuala Lumpur Seoul Sydney Melbourne 0 Budapest Cremona Prague Frankfurt Brussels Warsaw Moscow Madrid Paris London Latin America- America-Canada Europe Asia Australia 8 LOMBARDY Real Estate REPORT RETAIL real estate market Brescia city- Retail High streets Corso Campi Lease: 180-350 €/m²/year Examples of existing brands: MaxMara - Sisley intimissimi - Swatch Max & Co -Motivi - TEZENIS Benetton - COSE - LIU-JO KIKO - SEPHORA Historical Centre Zone Pedestrian zone 9 LOMBARDY Real Estate REPORT 1st semester - 2013 Cremona Province Lease Rate - Cremona City €/m²/year 100 2 2 270 300 330 360 390 420 450 480 510 130 160 1 1 40 90 Country City PPrime street 0 Italy Cremona Corso Campi Lease Trends - Across The Globe €/m²/year Country City Prime Street 2011 2012 2013 China Hong Kong Causeway Bay 12,644 22,307 22,764 U.S.A New York Fifth Avenue 18,003 22,047 22,340 U.K London Oxford Street - West 9,353 13,406 13,103 France Paris Avenue des Champs-Elysées 7,310 10,375 11,229 Switzerland Zurich Bahnhofstrasse 7,997 8,164 8,216 Italy Cremona Corso Campi 355 350 350 Australia Sydney Pitt Street Mall 7,544 7,243 7,141 Belgium Brussels Rue Neuve 7,800 7,409 7,115 Russia Moscow Tverskaya 5,769 5,669 5,718 Japan Tokyo Ginza (Chuo Street ) 5,108 5,116 4,965 Germany Munich Kaufingerstraße 4,346 4,103 4,083 Germany Frankfurt Zeil 3,550 3,609 3,620 Germany Hamburg Spitalerstraße 3,157 3,483 3,470 Germany Berlin Tauentzienstraße 2,889 2,738 3,100 China Shanghai Nanjing Road West 2,730 2,772 2,851 China Beijing Wangfujing 2,152 2,495 3,324 S.Corea Seoul Myeongdong 2,085 2,090 2,062 Spain Madrid Puerta del Sol Preciados 2,303 2,487 2,343 India Delhi Khan Market 2,319 2,169 2,174 Brazil Rio de Janeiro Garcia D`Avila 1,340 1,532 1,570 U.A.E Dubai Sheikh Zayed Road 151 327 361 BRIC countries Lease €/sqm/year 25,000 2011 2012 2013 20,000 15,000 10,000 5,000 0,000 i i l i t y k s s e e n h n h o o d g g r g w l i a i a h u i r r r l l y e r i c c r d o n u n e r o i i h o b i o m f u e k n j a r e d o d s i c e n e u g Y k o o b o d u i n P D a s n e s K u n B S n D y R T a Z u R o o w m B a a M r S J M g r L e a h M n B F Cremona S N H o H 10 LOMBARDY Real Estate REPORT INDUSTRIAL real estate market Industrial Key Sectors Agriculture & Food processing Cosmetics Metalworks Engineering ICT Tourism Cremona is a growing industrial territory and offers a new industrial area of 1 million of m2 connected with intermodal transport system (by railway, roads and fluvial transport), strategically located in the centre of the river Po valley. As well as historically more developed industrial sectors, metalworks engineering equipment exports are very common and substantial growth has been recorded in cosmetics. Cremona province - industrial zones €/m²/year Frontella LEGEND LOGISTICS HUB Milan ACTUAL INFRASTRUCTURE San Donato A4 HIGHWAY Milanese Orzinuovi RAILWAY LINE Average annual lease price 50 €/mq Brescia 40 €/mq Lodi 35 €/mq Pontevico 30 €/mq 25 €/mq No/local market Codogno- Pavia Cremona Piacenza Parma Viadana All values are expressed in € / sq m / year and may be increased or decreased up to 25% in relation to the characteristics and location of the property, the law, and the state of conserv -ation. In particular, the analyzed sample took into account property from 5,000 to 20,000 square meters for logistics.