Every quarter, ImmoStat 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
OFFICES IN THE GREATER PARIS REGION
Over first half 2024, office take-up in the Greater Paris Region reached 853,300 sqm which is down by 5% compared to first half 2023. The second quarter 2024 has totalled 408,700 sqm, down by 9% vs Q2 2023.
Office immediate supply on June 30th 2024 in the Greater Paris Region is estimated at 4,983,000 sqm, up by 11% yo-y.
Based on transactions of the quarter, the headline rent of offices is on average:
- € 441 /sqm pa, excluding taxes and charges for second-hand space, up by 3% over a year ;
- € 429 /sqm pa, excluding taxes and charges for new or refurbished space, down by 1% over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 25.8% last quarter and will be updated next month for Q2 2024.
INVESTMENTS IN FRANCE
In France, the investment volume in Commercial Real Estate over first half 2024 reached €4.1 billion, down by 39% compared to first half 2023. Q2 2024 is down by 49% compared to the Q2 2023 and represents €2.1 billion.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over first half 2024 reached €1.9 billion, down by 57% compared to first half 2023. Q2 2024 is down by 49% compared to the Q2 2023 and represents €1.0 billion.
The average capital value for Office in the Greater Paris Region over Q2 2024 all types alike reached €5,800 /sqm (including transactions costs) which is down by 23%baisse de 23 % y-o-y.
WAREHOUSES LOGISTICS IN FRANCE
For whole France, the take-up for warehouses above 5,000 sqm over first half 2024 reached 1,391,000 sqm, with 1,186,400 sqm in French Regions and 204,700 sqm in the Greater Paris Region for transactions of this size. Compared to first half 2023, this national result is down by 24%. The second quarter 2024 has totalled 676,100 sqm, down by 6% vs Q2 2023.
