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 327,400 sqm over Q1 2021, down by 30% vs Q1 2020.
Office immediate supply on March 31st 2021 in the Greater Paris Region is estimated at 3,787,000 sqm, up by 30% yo-y.
Based on transactions of the quarter, the headline rent of offices is on average:
- € 402 /sqm pa, excluding taxes and charges for second-hand space, up by 5% over a year;
- € 414 /sqm pa, excluding taxes and charges for new or refurbished space, up by 4% over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 20.8% last quarter and will be updated next month for Q1 2021.
INVESTMENTS IN FRANCE
In the Greater Paris Region, the investment volume in Commercial Real Estate over Q1 2021 reached €4.6 billion, down by 39% compared to the Q1 2020.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over Q1 2021 reached €3.2 billion, down by 38% compared to the Q1 2020.
The average capital value for Office in the Greater Paris Region over Q1 2021 all types alike reaches €8,420 /sqm (including transactions costs) which is up by 7% y-o-y.
More information about Q1 2021 can be found on our webpage "Market Data".