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
Over H1 2018, the office take-up in the Greater Paris Region reached 1,332,700 sqm which is up by 15 % compared to H1 2017. The second quarter of 2018 sums up to 644,100 sqm, up by 28 % vs Q2 2017.
The office immediate supply on June 30th 2018 in the Greater Paris Region is estimated at 3,055,000 sqm, down by 12 % year-on-year.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 369 /sqm per year, taxes and charges excluded for second-hand properties, up by 3 % over a year ;
€ 383 /sqm per year, taxes and charges excluded for new or refurbished space, up by 6 % over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 20.7 % last quarter and will be updated next month for Q2 2018.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in commercial Real Estate over H1 2018 reached €9.1 billion, up by 69 % when compared to H1 2017. Q2 2018 is up by 106 % when compared to the second quarter 2017 and represents €6.1 billion.
The average capital value for Office in the Greater Paris Region over Q2 2018 all types alike reaches € 6,460 /sqm (including transactions costs) which is up by 4 % over a year.
WAREHOUSES IN FRANCE
Over H1 2018, the take-up for warehouses above 5,000 sqm in the Greater Paris region (Oise included) reached 248,500 sqm, which is down by 55 % compared to H1 2017.
For France as a whole, the take-up for warehouses above 10,000 sqm over H1 2018 reached 1,106,200 sqm, with 950,900 sqm in French Regions and 155,400 sqm in the Greater Paris Region for transactions of this size. Compared to H1 2017, this national result is down by 27%.
More information about Q2 2018 can be found on our webpage "Market Data".