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
OFFICES IN THE GREATER PARIS REGION
The office take-up in the greater Paris region has reached 589,800 sqm over Q3 2017, down by 3% vs Q3 2016. Since the start of 2017, the office take-up now sums up to 1,765,800 sqm, which is up by 2% when compared to the same period over 2016.
The immediate office supply on september 30th 2017 in the greater Paris Region is estimated to about 3,538,000 sqm, down by 2% with regards to its level a year ago.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 354 psqm per year, taxes and charges excluded for second-hand properties, down by 1% over a year ;
€ 368 psqm per year, taxes and charges excluded for new or restructured properties, down by 2% 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 2017.
INVESTMENTS IN THE GREATER PARIS REGION
In the greater Paris Region, the investment volume in commercial Real Estate over Q3 2017 has reached €4.0 billion, down by 32% vs Q3 2016. The investment volume now sums up since the start of 2017 to €9.4 billion, down by 26% when compared to the same timeframe last year.
More information about Q3 2017 can be found on our webpage "Market Data".