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New ImmoStat Results for Q3 2020


Market release ImmoStat Q3 2019 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 in France and the average price in the Greater Paris Region for offices


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OFFICES IN THE GREATER PARIS REGION

At the end of September 2020, office take-up in the Greater Paris Region reached 913,200 sqm which is down by 46% compared to the end of September 2019. The third quarter 2020 has totalled 246,200 sqm, down by 58% vs Q3 2019.

Office immediate supply on September 30th 2020 in the Greater Paris Region is estimated at 3,295,000 sqm, up by 18% y-o-y.

Based on transactions of the quarter, the headline rent of offices is on average:

  • € 410 /sqm pa, excluding taxes and charges for second-hand space, up by 4% over a year ;

  • € 411 /sqm pa, excluding taxes and charges for new or refurbished space, up by 3% over a year.

The headline rent is defined in lease contracts regardless of incentives, whose level was 20.9% last quarter and will be updated next month for Q3 2020.

INVESTMENTS IN FRANCE

In France, the investment volume in Commercial Real Estate over Q3 2020 reached €5.2 billion, down by 49% compared to the Q3 2019. The investment volume has totalled €16.5 billion since the start of 2020, down by 33% compared to the same timeframe last year.

INVESTMENTS IN THE GREATER PARIS REGION

In the Greater Paris Region, the investment volume in Commercial Real Estate over Q3 2020 reached €3.9 billion, down by 40% compared to the Q3 2019. The investment volume has totalled €11.6 billion since the start of 2020, down by 31% compared to the same timeframe last year.


The average capital value for Office in the Greater Paris Region over Q3 2020 all types alike reaches €8,010 /sqm (including transactions costs) which is up by 9% y-o-y.

More information about Q3 2020 can be found on our webpage "Market Data".