Italian real estate market shifts toward conversions and indoor health

The Italian real estate market is undergoing significant structural changes. In the first half of 2026, over a quarter of the €7.8 billion invested in Italian commercial real estate was directed toward conversion projects. Approximately 30% of office investments were repurposed for hotels, student housing, and residential use. This trend also affects the retail sector, as traditional shopping centers and neighborhood stores adapt to new functions.

Simultaneously, research by the Home Health HiTech network and Fondazione B. live highlights the emerging importance of indoor health. As people spend over 90% of their time in enclosed spaces, factors such as air quality, ventilation, humidity, thermal and acoustic comfort, and natural light are becoming critical to property value. The study suggests that establishing objective metrics for indoor health could become a key driver for investors and developers in preserving asset competitiveness.