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
OFFICES IN THE GREATER PARIS REGION
Office take-up in the Greater Paris Region reached 503,600 sqm over Q3 2018, down by 17% vs Q3 2017. Since the start of 2018, the office take-up now has totalled 1,873,700 sqm, which is up by 6% compared to the same period over 2017.
Office immediate supply on September 30th 2018 in the Greater Paris Region is estimated at 2,958,000 sqm, down by 15% y-o-y.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 374 /sqm pa, excluding taxes and charges for second-hand space, up by 8% over a year ;
€ 385 /sqm pa, excluding taxes and charges for new or refurbished space, up by 5% over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 20.5% last quarter and will be updated next month for Q3 2018.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over Q3 2018 reached ,€3.4 billion down by 20% when compared to the Q3 2017. The investment volume has totalled €12.8 billion since the start of 2018, up by 33% when compared to the same timeframe last year.
The average capital value for Office in the Greater Paris Region over Q3 2018 all types alike reaches €6,560 /sqm (including transactions costs) which is up by 6% y-o-y.
More information about Q3 2018 can be found on our webpage "Market Data".