The office take-up in the greater Paris region has reached 663,900 sqm over Q1 2017, up by 27% vs Q1 2016.
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 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
OFFICES IN THE GREATER PARIS REGION
The office take-up in the greater Paris region has reached 663,900 sqm over Q1 2017, up by 27% vs Q1 2016.
The immediate office supply on march 31st 2017 in the greater Paris Region is estimated to 3,565,000 sqm, down by 7% with regards to its level a year ago.
Based on transactions of the quarter, the headline rent of offices is on average:
- € 349 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, up by 4% over a year.
The headline rent is the amount defined in lease contracts regardless of incentives, whose level was 21.5% last quarter and will be updated next month for Q1 2017.
INVESTMENTS IN THE GREATER PARIS REGION
In the greater Paris Region, the investment volume in commercial Real Estate over Q1 2017 has reached €2.3 billion, up by 18% when compared to the first quarter of 2016.
The average price of Offices acquired in the Greater Paris Region over Q4 2016 all types alike reaches € 5,980 psqm (with transactions costs) which is up by 4% over a year.
More information about Q1 2017 can be found on our webpage "Market Data".