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 for offices
the warehouse take-up in France
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OFFICES IN THE GREATER PARIS REGION
For the whole year 2017, the office take-up in the Greater Paris region reached 2,632,600 sqm which is up by 8% compared to 2016. The last quarter 2017 sums up to 853,900 sqm, up by 21% vs Q4 2016.
The immediate supply on December 31st 2017 in the Greater Paris Region is estimated to 3,389,000 sqm, down by 4% year-on-year.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 357/sqm per year, taxes and charges excluded for second-hand properties, up by 3% over a year;
€ 370/sqm per year, taxes and charges excluded for new or refurbished properties, up by 1% over a year;
The headline rent is the value defined in lease contracts regardless of incentives, whose level was 22.3% last quarter and will be updated next month for Q4 2017.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in commercial Real Estate over 2017 reached €18.5 billion, down by 8% when compared to the year 2016. Q4 2017 is up by 18% when compared to the last quarter 2016 and represents €8.9 billion.
The average price for offices bought in the Greater Paris Region over Q4 2017 all types of office space quality reached € 6,390 psqm (including transactions costs) which is up by 5% over a year.
WAREHOUSES IN FRANCE
For the whole year 2017, the warehouse take-up above 5,000 sqm in the Greater Paris region (southern part of Oise included) reached 1,756,800 sqm, which is up by 94% when compared to the year 2016.
For France as a whole, the warehouse take-up above 10,000 sqm in the year 2017 reached 3,389,700 sqm, with 1,820,900 sqm in French Regions and 1,568,800 sqm in the Greater Paris Region for transactions of this size. Compared with 2016, this national result increased by 3%.
More information about Q4 2017 can be found on our webpage "Market Data".