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
OFFICES IN THE GREATER PARIS REGION
For the whole year 2021, office take-up in the Greater Paris Region reached 1,853,400 sqm which is up by 32% compared to 2020. The last quarter 2021 has totalled 631,000 sqm, up by 29% vs Q4 2020.
Office immediate supply on December 31st 2021 in the Greater Paris Region is estimated at 4,041,000 sqm, up by 10% y-o-y.
Based on transactions of the quarter, the headline rent of offices is on average:
€415 /sqm pa, excluding taxes and charges for second-hand space, flat over a year;
€414 /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 24.4% last quarter and will be updated next month for Q4 2021.
INVESTMENTS IN FRANCE
In France, the investment volume in Commercial Real Estate over the year 2021 reached €24.9 billion, down by 8% compared to the year 2020. Q4 2021 is up by 5% compared to the last quarter 2020 and represents €10.3 billion.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over the year 2021 reached €14.7 billion, down by 25% compared to the year 2020. Q4 2021 is down by 18% compared to the last quarter 2020 and represents €6.0 billion.
The average capital value for Office in the Greater Paris Region over Q4 2021 all types alike reached €8,220 /sqm (including transactions costs) which is up by 1% y-o-y.
WAREHOUSES IN FRANCE
For the whole year 2021, the take-up for warehouses above 5,000 sqm in the Greater Paris region (southern part of Oise included) reached 1,148,900 sqm, which is up by 26% compared to the year 2020.
For France as a whole, the take-up for warehouses above 10,000 sqm in the year 2021 reached 3,596,300 sqm, with 2,711,000 sqm in French Regions and 885,200 sqm in the Greater Paris Region for transactions of this size. Compared to the year 2020, this national result is up by 8%.
More information about Q4 2021 can be found on our webpage "Market Data".