Since the start of 2016, the office take-up now sums up to 1,731,900 sqm, which is up by 14% when compared to the same period over 2015.
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 592,600 sqm over Q3 2016, up by 4% vs Q3 2015. Since the start of 2016, the office take-up now sums up to 1,731,900 sqm, which is up by 14% when compared to the same period over 2015.
The immediate office supply on september 30th 2016 in the greater Paris Region is estimated to about 3,601,000 sqm, down by 8% with regards to its level a year ago.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 328 psqm per year, taxes and charges excluded for second-hand properties, up by 2% over a year ;
€ 385 psqm per year, taxes and charges excluded for new or restructured properties, up by 5% over a year.
The headline rent is the amount defined in lease contracts regardless of incentives, whose level was 22.1% last quarter and will be updated next month for Q3 2016.
INVESTMENTS IN THE GREATER PARIS REGION
In the greater Paris Region, the investment volume in commercial Real Estate over Q3 2016 has reached €5.6 billion, down by 7% when compared to the third quarter of 2015. The investment volume now sums up since the start of 2016 to €12.4 billion, up by 6% when compared to the same timeframe last year.
More information about Q3 2016 can be found on our webpage "Market Data".