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 logistics take-up in France
OFFICES IN THE GREATER PARIS REGION
Over H1 2021, office take-up in the Greater Paris Region reached 765,600 sqm which is up by 14% compared to H1 2020. The Q2 2021 totalled 422,800 sqm, up by 107% vs Q2 2020.
Office immediate supply on June 30th 2021 in the Greater Paris Region is estimated at 4,003,000 sqm, up by 34% yo-y.
Based on transactions of the quarter, the office average headline rent is on average:
€ 407 /sqm pa, excluding taxes and charges for second-hand space, flat over a year;
€ 419 /sqm pa, excluding taxes and charges for new or refurbished space, up by 1% over a year.
The headline rent is defined in lease contracts regardless of incentives, whose level was 23.0% last quarter and will be updated next month for Q2 2021.
INVESTMENTS IN FRANCE
In France, the investment volume in Commercial Real Estate over H1 2021 reached €8.1 billion, down by 29% compared to H1 2020. Q2 2021 is down by 34% compared to the Q2 2020 and represents €3.2 billion.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over H1 2021 reached €5.2 billion, down by 35% compared to H1 2020. Q2 2021 is down by 34% compared to the Q2 2020 and represents €1.9 billion
The average capital value for Office in the Greater Paris Region over Q2 2021 all types alike reached €8,200 /sqm (including transactions costs) which is up by 3% y-o-y.
LOGISTICS IN FRANCE
Over H1 2021, the take-up for warehouses above 5,000 sqm in the Greater Paris region (Oise included) reached 385,600 sqm, which is up by 14% compared to H1 2020.
For whole France, the take-up for warehouses above 10,000 sqm over H1 2021 reached 1,332,400 sqm, with 1,071,900 sqm in French Regions and 260,400 sqm in the Greater Paris Region for transactions of this size. Compared to H1 2020, this national result is up by 10%.
More information about Q2 2021 can be found on our webpage "Market Data".