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New ImmoStat Results for Q1 2021


Market release ImmoStat Q1 2021 Commercial Real Estate in Greater Paris Region : take-up, rents, investment volume, warehouses

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

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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".