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Cremona Province

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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
Switzerland
France
ITALY
1
Austria
Slovenia
Lugano
lake
Maggiore
lake
Varese
lake
Como
lake
Idro
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
GDP
Millions of euro
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
GDP
per capita-Euro
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
GDP
2010
2011
2012
330.997
337.285,9
327.167,3
33.500
33.624,2
32.615,5
Source: ISTAT, Italian National Institute of Statistics
Provinces of Lombardy
Area
Municipalities
(km²)
(n°)
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
Italy
9.917.714
60.626.442
23.860,62
301.340
Province
Population
Bergamo
Source: ISTAT, Italian National Institute of Statistics
3
LOMBARDY Real Estate REPORT
LOMBARDY Real Estate REPORT
A51
A9
Lugano
lake
Maggiore
lake
A26
Como
lake
A22
Varese
lake
Idro
lake
PEDE
MONTANA
Garda
lake
BREBEMI
A4
A4
A21
BorniMortara
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%
Food derivatives
2,20% Other professional services
4,31%
Metalworking (inc, alloys)
Plastic products
4,31%
28,36% Other
4,31%
6,51%
Transport & logistics
6,51%
Metal production
Electricity, gas & water
6,51%
23,95% Wholesale trading
Machinery & mechanical equipment
8,72%
Sources: ISTAT, Italian National Institute of Statistics
India Nigeria
Ukraine
Serbia
2%
Tunisia
4%
4%
China
4%
Ivory Coast
5%
Foreign Citizens Population
First 10 Nationalities
Sources: ISTAT, Italian National Institute of Statistics
47%
Morocco
Romania
13%
17%
Albania
Cremona’s GDP Trend
YEAR
2003
2004
2005
2006
2007
2008
2009
2010
2011
GDP
per capita-Euro
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
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
surplus
value per economic sphere reveal that Cremona's agriculture is very important to the regional
Milan
San
Donato
economy:
it has the highest percentage of the overall total in Lombardy (4.4%).
Milanese
Orzinuovi
Brescia
Lodi
Pontevico
Average annual lease price
150 €/mq
130 €/mq
110 €/mq
CodognoPavia
90 €/mq
Cremona
70 €/mq
No office market
LEGEND
OFFICE CENTRE
Piacenza
Parma
ORIO AL SERIO AIRPORT
INFRASTRUCTURE UNDER
CONSTRUCTION
ACTUAL INFRASTRUCTURE
A4 HIGHWAY
RAILWAY LINE
Viadana
Cremona Municipality - Office Real Estate Values €/m²/year
240 €/mq
Crema
300 €/mq
220 €/mq
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 office market
No office market
Road
Road
SS10 Highway
SS10 Highway
Min annual lease rate
1
7
240 €/mq
Crema
Mantua
Max annual lease rate
LOMBARDY Real Estate REPORT
Cremona Province
1st semester - 2013
Lease Trend - Across The Globe
Lease rate €/sq.m/year
€
1400
1200
1000
800
Latin America- America-Canada
Europe
Asia
Melbourne
Sydney
Seoul
Kuala Lumpur
Mumbai
Shanghai
Singapore
Delhi
Beijing
Tokyo
Hong Kong
Cremona
Budapest
Prague
Madrid
Warsaw
Frankfurt
Paris
Moscow
Brussels
London
Lima
Vancouver
Bogota
0
San Francisco
200
Rio de Janeiro
400
Sao Paulo
600
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
Latin America- America-Canada
Europe
Asia
Melbourne
Sydney
Seoul
Kuala Lumpur
Mumbai
Shanghai
Singapore
Delhi
Beijing
Tokyo
Hong Kong
London
Paris
Madrid
Moscow
Warsaw
Brussels
Frankfurt
Prague
Cremona
Budapest
Lima
Bogota
Vancouver
0
Rio de Janeiro
5
Sao Paulo
10
San Francisco
15
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
Cremona Province
1st semester - 2013
Lease Rate - Cremona City €/m²/year
City
PPrime street
Italy
Cremona
Corso Campi
510
480
450
420
390
360
330
300
270
240
210
190
160
130
100
Country
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
20,000
2012
2013
15,000
10,000
Cremona
Dubai
Rio de
Janeiro
Delhi
Madrid
Seoul
Shanghai
Berlin
Beijing
Hamburg
Frankfurt
Munich
Tokyo
Moscow
Rome
Sydney
Brussels
Zurich
Paris
London
New York
0,000
Hong Kong
5,000
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
San Donato
Milanese
ACTUAL INFRASTRUCTURE
A4 HIGHWAY
Orzinuovi
RAILWAY LINE
Average annual lease price
50 €/mq
Brescia
Lodi
Pontevico
40 €/mq
35 €/mq
30 €/mq
25 €/mq
No/local market
CodognoPavia
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. It must be considered that for properties with the courier / transport
use values can vary from a minimum of 10% to a maximum of +40%.
11
LOMBARDY Real Estate REPORT
Cremona Province
1st semester - 2013
3,256 Millions of €
EXPORT
International trade
2012
IMPORT
3,055 Millions of €
Europe prime industrial cities - lease rate €/m²/year
€ 140,00
€ 120,00
€ 100,00
€ 80,00
€ 60,00
€ 40,00
Cremona
Bucharest
Brussels
Prague
Athens
Riga
Rome
Vienna
Kiev
Berlin
Rotterdam
Warsaw
Dublin
Istanbul
Paris
Madrid
Manchester
Barcelona
Amsterdam
Frankfurt
Glasgow
Monaco
Tel Aviv
St. Petersburg
London
Moscow
Stockholm
Zurich
Oslo
€ 20,00
12
LOMBARDY Real Estate REPORT
HOTEL real estate market
Cremona Province - Hotel & touristic attractions
The province of Cremona has a lot to offer tourists, mainly thanks to its important art and cultural heritage and
historical figures such as Stradivari. The city is the lutherie capital of the world and has a "music district" where
you can find the famous theatres. For companies looking to invest in nature tourism, Cremona has an extensive
cycle path network and a strong rowing tradition, being surrounded by greenery and situated by the river Po.
Cremona is undoubtedly the world capital of the most worldwide famous violin makers (Stradivari, Guarneri,
Amati) with a tradition still alive nowadays in more than 150 local workshops.
Pandino
Crema
Soncino
Crema
Brescia
Touristic attractions:
S.Giovanni in Croce
LEGEND
Golf club
Horse riding club
Spa
Cremona
Hotels concentration
number/municipality
Low
Adda Park-South
Piacenza
Parma
High
Pizzighettone
Torre de Picenardi
13
LOMBARDY Real Estate REPORT
1st semester - 2013
Cremona Province
Cremona Province - Tourist flows
Touristic Places
Italians
Arrivals
Night spent
Foreigners
Arrivals
Night spent
Total
Arrivals
Night spent
Cremona
29.823
46.890
22.869
38.599
52.692
85.489
Crema e
Casalmaggiore
13.968
29.124
6.456
18.067
20.424
47.191
Other municipalities
94.568
167.491
12.196
30.113
106.764
197.604
138.359
243.505
41.521
86.779
179.880
330.284
TOTAL
Cremona City Centre - Hotel investment appeal index
A tool for evaluation of different investment options is highly essential for a safe investment. Due to this fact it
is provided an appeal index for Hotel real estate investments in Italy. This Index indicates the appeal of investment and initiation of a hotel business in a specific zone of the city.
In calculation process of investment appeal Index many important parameters has been taken in to consideration among those we can mention ; Location in a city, annual occupational rate depending on the hotel stars,
annual lease price, annual rooms revenue, room numbers, hotel services and so on.
Min
room revenue
/night *1
Annual
occupation rate*2
3 Stars
Hotel
45-70
45,80%
50-160
7522,65 - 11701,90
1.250,00 - 4.000,00
0,66 - 0,83
4 Stars
Hotel
60-75
44,40%
50-160
9723,60 - 12154,50
1.600,00 - 5.120,00
0,58 - 0,84
Lease price*3
€/m2/year
Room revenue
€/per year
Room lease
€/year
Hotel investment
appeal index
Primary Sources
*1- Booking.com™
*2- Istat, Italian National Institute Of Statistics - Federturismo Confindustria - Italian Hotel Monitor - Trademark Italy
*3- World Capital
14
Our Expertise
for your business
Phase 1
Identifying needs:
- Location
- Type of property
- Budget
- Timing
Phase 2
RESEARCH AND SELECTION:
A network of local real estate consultants,
according to a specific search criteria,
individualize a series of real estate opportunities in order to propose the best
solutions to customers.
Phase 3
EVALUATION AND CONCLUSION OF THE
CONTRACT:
The client consider the best market
opportunities to choose the one suits his
needs and then formulate the lease or
purchase proposal. The customer will be
companied until the conclusion of the
final contract.
Phase 4
®
A G E N C Y - C O N S U LT IN G - P R O P E R T Y - IN V E S T M E N T
Piazza Maestri del Lavoro, 7 - 20063 C ernusco sul Naviglio (MI)
Tel. +39 02 95305886
www.worldcapital.it - [email protected]
REAL ESTATE INVESTMENT:
Completed the contractual definition,
World Capital individualizes, in the case
of lease, the investor (private, company,
real estate found etc) that is interested in
purchasing the asset.
Phase 5
EQUIPMENT, PLANNING, REALIZATION
AND COMPLEMENTARY SERVICES:
Based on the customer request, World
Capital provides technical advice about
the property.
Via Restelli, 3/7 (MI)
20124 Milan
Tel. +39 02 87365130
Fax. +39 02 95305209
Neda Aghabegloo
Research Department
[email protected]
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