Q3 2024 Rent incentives

Q3 2024 Rent incentives

AVERAGE RENT INCENTIVES DECREASE AT 25.4% IN THE GREATER PARIS REGION

The average level of rent incentives for new office lettings above 1,000 sqm in the Greater Paris Region decreased in Q3 2024 to reach 25.4% (-0.6 points compared to the previous quarter).

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New office lettings > 5,000 sqm continued to experience stronger incentives than others with a difference of +1.9 points in Q3 2024.

In the meanwhile, the secured length of lease > 5,000 sqm reached an average of 8.9 years (+6% year-on-year) in Q3 2024 and 6.4 years (-1% year-on-year) for those from 1,000 to 5,000 sqm.

The average level of rent incentives ranges across market sectors from 14.2% in Paris CBD to 40.3% in La Défense. One of the most significant change over the quarter, is a decrease of rent incentives by -2.5 points in La Défense.

All calculations are based on transactions made by ImmoStat members. This allows an unrivalled coverage of 78% of the take-up that was observed for transactions > 1,000 sqm over the last 12 months (87% on space > 5,000 sqm).