AVERAGE RENT INCENTIVES REACH 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 flat in Q1 2024 to reach 25.8% (+0.4 points compared to the previous quarter).
New office lettings > 5,000 sqm continued to experience stronger incentives than others with a difference of +2.3 points in Q1 2024.
In the meanwhile, the secured length of lease > 5,000 sqm reached an average of 9.1 years (+15% year-on-year) in Q1 2024 and 6.3 years (-2% year-on-year) for those from 1,000 to 5,000 sqm.
The average level of rent incentives ranges across market sectors from 16.2% in Paris CBD to 40% in La Défense. One of the most significant change over the quarter, is a increase of rent incentives by +4.1 points in La Défense.
All calculations are based on transactions made by ImmoStat members. This allows an unrivalled coverage of 79% of the take-up that was observed for transactions > 1,000 sqm over the last 12 months (92% on space > 5,000 sqm).