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 2019, office take-up in the Greater Paris Region reached 2,316,500 sqm which is down by 10% compared to 2018. Q4 2019 totalled 639,800 sqm, down by 9% vs Q4 2018.
Office immediate supply on December 31st 2019 in the Greater Paris Region is estimated at 2,717,000 sqm, down by 8% y-o-y.
Based on transactions of the quarter, the headline rent of offices is on average:
€400 /sqm pa, excluding taxes and charges for second-hand space, up by 5% over a year;
€397 /sqm pa, excluding taxes and charges for new or refurbished space, up by 3% over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 19.3% last quarter and will be updated next month for Q4 2019.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over the year 2019 reached €26.9 billion, up by 14% compared to the year 2018. Q4 2019 is down by 1% compared to the last quarter 2018 and represents €10.3 billion.
The average capital value for Office in the Greater Paris Region over Q4 2019 all types alike reaches €7,770/sqm (including transactions costs) which is up by 19% y-o-y.
WAREHOUSES IN FRANCE
For the whole year 2019, the take-up for warehouses above 5,000 sqm in the Greater Paris region (Southern part of Oise included) reached 897,400 sqm, which is down by 17% compared to the year 2018.
For France as a whole, the take-up for warehouses above 10,000 sqm in the year 2019 reached 3,033,400 sqm, with 2,292,500 sqm in French Regions and 740,900 sqm in the Greater Paris Region for transactions of this size. Compared to the year 2018, this national result is down by 9%.
More information about Q4 2019 can be found on our webpage "Market Data".