For the year 2016, the office take-up in the greater Paris region has reached 2,410,400 sqm which is up by 7% when compared to 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 and the average price of Offices
the take-up of warehouses in France
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OFFICES IN THE GREATER PARIS REGION
For the year 2016, the office take-up in the greater Paris region has reached 2,410,400 sqm which is up by 7% when compared to 2015. The last quarter 2016 sums up to 669,400 sqm, down by 11% vs Q4 2015.
The immediate office supply on december 31st 2016 in the greater Paris Region is estimated to 3,530,000 sqm, down by 10% with regards to its level a year ago.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 323 psqm per year, taxes and charges excluded for second-hand properties, flat over a year ;
€ 374 psqm per year, taxes and charges excluded for new or restructured properties, flat over a year.
The headline rent is the amount defined in lease contracts regardless of incentives, whose level was 22.2% last quarter and will be updated next month for Q4 2016.
INVESTMENTS IN THE GREATER PARIS REGION
In the greater Paris Region, the investment volume in commercial Real Estate over the year 2016 has reached €19.6 billion, down by 4% when compared to the year 2015. Q4 2016 is down by 19% when compared to the last quarter of 2015 and represents €6.9 billion.
The average price of Offices acquired in the Greater Paris Region over Q4 2016 all types alike reaches € 6,040 psqm (with transactions costs) which is up by 2% over a year.
WAREHOUSES IN FRANCE
In the year 2016, the take-up for warehouses of at least 5,000 sqm in the greater Paris region (Oise included) has reached 826,600 sqm, which is down by 24% when compared to the year 2015.
For France as a whole, the take-up for warehouses of at least 10,000 sqm in the year 2016 has reached 3,023,600 sqm, with 2,387,900 sqm in French Regions and 635,700 sqm in the Greater Paris Region for transactions of alike size. When compared to the year 2015, this national result is up by 19%.
More information about Q4 2016 can be found on our webpage "Market Data".