The office take-up in the greater Paris region has reached 492,600 sqm over Q1 2016, up by 19% vs Q1 2015.
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 DTZ now operating under the brand 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
OFFICES IN THE GREATER PARIS REGION
The office take-up in the greater Paris region has reached 492,600 sqm over Q1 2016, up by 19% vs Q1 2015.
The immediate office supply on march 31st 2016 in the greater Paris Region is estimated to about 3,837,000 sqm, down by 3% with regards to its level a year ago.
Based on transactions of the quarter, the headline rent of offices is on average:
- € 323 psqm per year, taxes and charges excluded for second-hand properties, up by 3% over a year ;
- € 368 psqm per year, taxes and charges excluded for new or restructured properties, up by 3% over a year.
The headline rent is the amount defined in lease contracts regardless of incentives, whose level was 21.5% last quarter and will be updated next month for Q1 2016.
INVESTMENTS IN THE GREATER PARIS REGION
In the greater Paris Region, the investment volume in commercial Real Estate over Q1 2016 has reached €1.8 billion, down by 50% when compared to the first quarter of 2015. The investment volume for the year 2015 is reviewed to €20.3 billion.
More information about Q1 2016 can be found on our webpage "Market Data".