20.5% FOR AVERAGE RENT INCENTIVE IN THE GREATER PARIS REGION
After a decrease in Q4 2014 from 20.6% to 20.2%, the average level of rent incentives for new lettings of offices in the Greater Paris Region has increased over Q1 2015 to reach 20.5% (+0.3 points when compared to the previous quarter).
New lettings of offices above 5,000 sqm keep experiencing stronger incentives with a difference of +2.7 points in Q1 2015 against other transactions.
The average level for rent incentives ranges across markets sectors from 12.7% in Paris Centre West (non-CBD) to 21.6% in La Défense.
The strongest evolution observed over the quarter is a progression of incentives in the Southern Paris sector.
ABOUT THE INDICATOR
In December 2014, ImmoStat launched a new indicator about average rent incentives in the Greater Paris Region. This new publication is released one month after the others. It is designed to help Real Estate professionals gain a better understanding of rent levels.
The level of rent incentives is based on new lettings for offices greater than 1,000 sqm that took place in the Greater Paris Region over the last 12 months. It takes into account rent free periods as well as capital expenditures and step rents.
The data used in its calculation is based on lettings that have been assisted by ImmoStat members. This allows an unparalleled coverage of 66% of the take-up that was observed for lettings greater than 1,000 sqm over the last 12 months (75% for lettings greater than 5,000 sqm).
ImmoStat delivers analysis about rent incentives with all possible details by sectors, letting size, as well as cities with a record that goes back to Q4 2012.