New ImmoStat Results for Q3 2024

Every quarter, ImmoStat, an independent entity pooling data for the four main brokers in French Commercial Real Estate (BNP Paribas Real Estate, CBRE, JLL and Cushman & Wakefield) presents its key indicators for the Greater Paris Region. The present release covers: the office take-up both new lettings and sales to occupiers the office immediate supply and average headline rent the investment volume in France and the average price in the Greater Paris Region for offices the warehouse logistics take-up in France >Download our Press Release OFFICES IN THE GREATER PARIS REGION At the end of September 2024, office take-up in the Greater Paris Region reached 1,278,100 sqm which is down by9% compared to the end of September 2023. The third quarter 2024 has totalled 411,700 sqm, down by 19% vs Q3 2023. Office immediate supply on September 30th 2024 in the Greater Paris Region is estimated at 5,244,000 sqm, up by 13% y-o-y. Based on transactions of the quarter, the headline rent of offices is on average: € 448 /sqm pa, excluding taxes and charges for second-hand space, up by 5% over a year ; € 441 /sqm pa, excluding taxes and charges for new or refurbished space, up by 3% over a year. The headline rent is defined in lease contracts regardless of incentives, whose level was 26.0% last quarter and will be updated next month for Q3 2024. INVESTMENTS IN FRANCE In France, the investment volume in Commercial Real Estate over Q3 2024 reached €3.1 billion, up by 38% compared to the Q3 2023. The investment volume has totalled €7.4 billion since the start of 2024, down by 18% compared to the same timeframe last year. INVESTMENTS IN THE GREATER PARIS REGION In the Greater Paris Region, the investment volume in Commercial Real Estate over Q3 2024 reached €1.1 billion, down by 12% compared to the Q3 2023. The investment volume has totalled €3.1 billion since the start of 2024, down by 46% compared to the same timeframe last year. The average capital value for Office in the Greater Paris Region over Q3 2024 all types alike reached €5,790 /sqm (including transactions costs) which is down by 15% y-o-y. WAREHOUSES LOGISTICS IN FRANCE For whole France, the take-up for warehouses above 5,000 sqm has totalled 2,131,300 sqm since the start of 2024 with 1,793,800 sqm in French Regions and 337,500 sqm in the Greater Paris Region for transactions of this size. Compared to the same timeframe last year, this national result is down by 27%. The third quarter 2024 has totalled 512,100 sqm, down by 53% vs Q3 2023.