Since the start of 2015, the office take-up now sums up to 1,499,900 sqm, which is down by 6% when compared to the same period over 2014. The office take-up for the year 2015 (forecast) is expected around 2 million sqm.
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 564,600 sqm over Q3 2015, up by 39% vs Q3 2014. Since the start of 2015, the office take-up now sums up to 1,499,900 sqm, which is down by 6% when compared to the same period over 2014.
The office take-up for the year 2015 (forecast) is expected around 2 million sqm.
The immediate office supply on September 30th 2015 in the greater Paris Region is estimated to about 3,915,000 sqm, flat with regards to its level a year ago.
The headline rent for second-hand offices calculated based on transactions over Q3 2015 is on average € 327 psqm per year, taxes and charges excluded, up by 2% when compared to the former quarter. Note that this rent is the amount defined in lease contracts regardless of incentives, whose level will be published next month.
INVESTMENTS IN THE GREATER PARIS REGION
In the greater Paris Region, the investment volume in commercial Real Estate over Q3 2015 has reached €5.5 billion, up by 96% when compared to the third quarter of 2014. The investment volume now sumsup since the start of 2015 to €11.3 billion, down by 2% when compared to the same timeframe last year.
More information about Q3 2015 can be found on our webpage "Market Data".