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 in France and the average price in the Greater Paris Region for offices
the warehouse logistics take-up in France
OFFICES IN THE GREATER PARIS REGION
Office take-up in the Greater Paris region reached 317,400 sqm over Q1 2023, down by 39% vs Q1 2022.
Office immediate supply on March 31st 2023 in the Greater Paris Region is estimated at 4,427,000 sqm, up by 8% y-o-y.
Based on transactions of the quarter, the headline rent of offices is on average:
€ 427 /sqm pa, excluding taxes and charges for second-hand space, up by 3% over a year;
€ 422 /sqm pa, excluding taxes and charges for new or refurbished space, up by 2% over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 24.6% last quarter and will be updated next month for Q1 2023.
INVESTMENTS IN FRANCE
In the Greater Paris Region, the investment volume in Commercial Real Estate over Q1 2023 reached €3.3 billion, down by 35% compared to the Q1 2022.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over Q1 2023 reached €2.4 billion, down by 21% compared to the Q1 2022.
The average capital value for Office in the Greater Paris Region over Q1 2023 all types alike reached €7,710 /sqm (including transactions costs) which is down by 5% y-o-y.
WAREHOUSES LOGISTICS IN FRANCE
For whole France, the take-up for warehouses above 5,000 sqm over Q1 2023 reached 908,800 sqm, with 758,500 sqm in French Regions and 150,400 sqm in the Greater Paris Region. Compared to Q1 2022, this national result is down by 21%.
More information about Q1 2023 can be found on our webpage "Market Data".