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".