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
OFFICES IN THE GREATER PARIS REGION
At the end of September 2022, office take-up in the Greater Paris Region reached 1,488,300 sqm which is up by 20% compared to the end of September 2021. The third quarter 2022 has totalled 459,900 sqm, up by 11% vs Q3 2021.
Office immediate supply on September 30th 2022 in the Greater Paris Region is estimated at 4,111,000 sqm, up by 3% 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 6% over a year ;
€ 426 /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 24.1% last quarter and will be updated next month for Q3 2022.
INVESTMENTS IN FRANCE
In France, the investment volume in Commercial Real Estate over Q3 2022 reached €7.4 billion, up by 24% compared to the Q3 2021. The investment volume has totalled €19.7 billion since the start of 2022, up by 34% 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 2022 reached €5.0 billion, up by 57% compared to the Q3 2021. The investment volume has totalled €12.7 billion since the start of 2022, up by 44% compared to the same timeframe last year.
The average capital value for Office in the Greater Paris Region over Q3 2022 all types alike reached €8,240 /sqm (including transactions costs) which is up by 2% y-o-y.
WAREHOUSES LOGISTICS IN FRANCE
At the end of September 2022, the take-up for warehouses above 5,000 sqm in the Greater Paris region (Oise included) reached 932,100 sqm, which is up by 12% compared to the end of September 2021.
For whole France, the take-up for warehouses above 10,000 sqm has totalled 2,395,200 sqm since the start of 2022 with 1,596,500 sqm in French Regions and 798,800 sqm in the Greater Paris Region for transactions of this size. Compared to the same timeframe last year, this national result is down by 14%.
More information about Q3 2022 can be found on our webpage "Market Data".