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New ImmoStat Results for Q4 2020


Market release ImmoStat Q4 2020 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

  • the warehouse take-up in France

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OFFICES IN THE GREATER PARIS REGION

For the whole year 2020, office take-up in the Greater Paris Region reached 1,321,000 sqm which is down by 45% compared to 2019. The last quarter 2020 has totalled 408,700 sqm, down by 40% vs Q4 2019.

Office immediate supply on December 31st 2020 in the Greater Paris Region is estimated at 3,683,000 sqm, up by 36% y-o-y.

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

  • €405 /sqm pa, excluding taxes and charges for second-hand space, flat over a year;

  • €406 /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 21.3% last quarter and will be updated next month for Q4 2020.

INVESTMENTS IN FRANCE

In France, the investment volume in Commercial Real Estate over the year 2020 reached €26.3 billion, down by 34% compared to the year 2019. Q4 2020 is down by 42% compared to the last quarter 2019 and represents €9.1 billion

In France, the corporate investment volume in Commercial Real Estate over the year 2020 reached €300 millions.


INVESTMENTS IN THE GREATER PARIS REGION

In the Greater Paris Region, the investment volume in Commercial Real Estate over the year 2020 reached €19.1 billion, down by 33% compared to the year 2019. Q4 2020 is down by 39% compared to the last quarter 2019 and represents €7.0 billion.


The average capital value for Office in the Greater Paris Region over Q4 2020 all types alike reaches €8,130 /sqm (including transactions costs) which is up by 5% y-o-y.

WAREHOUSES IN FRANCE

For the whole year 2020, the take-up for warehouses above 5,000 sqm in the Greater Paris region (southern part of Oise included) reached 914,500 sqm, which is down by 2% compared to the year 2019.

For France as a whole, the take-up for warehouses above 10,000 sqm in the year 2020 reached 2,925,500 sqm, with 2,159,300 sqm in French Regions and 766,200 sqm in the Greater Paris Region for transactions of this size. Compared to the year 2019, this national result is down by 7%.

More information about Q4 2020 can be found on our webpage "Market Data".

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