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 2022, office take-up in the Greater Paris Region reached 2,108,300 sqm which is up by 10% compared to 2021. The last quarter 2022 has totalled 602,300 sqm, down by 11% vs Q4 2021.
Office immediate supply on December 31st 2022 in the Greater Paris Region is estimated at 4,320,000 sqm, up by 7% y-o-y.
Based on transactions of the quarter, the headline rent of offices is on average:
€438 /sqm pa, excluding taxes and charges for second-hand space, up by 6% over a year;
€424 /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 23.8% last quarter and will be updated next month for Q4 2022.
INVESTMENTS IN FRANCE
In France, the investment volume in Commercial Real Estate over the year 2022 reached €25.5 billion, down by 2% compared to the year 2021. Q4 2022 is down by 52% compared to the last quarter 2021 and represents €5.4 billion.
INVESTMENTS IN THE GREATER PARIS REGION
In the Greater Paris Region, the investment volume in Commercial Real Estate over the year 2022 reached €15.0 billion, down by 3% compared to the year 2021. Q4 2022 is down by 62% compared to the last quarter 2021 and represents €2.5 billion.
The average capital value for Office in the Greater Paris Region over Q4 2022 all types alike reached €7,980 /sqm (including transactions costs) which is down by 1% y-o-y.
WAREHOUSES IN FRANCE
For the whole year 2022, the take-up for warehouses above 5,000 sqm in the Greater Paris region (southern part of Oise included) reached 1,096,500 sqm, which is down by 10% compared to the year 2021.
For France as a whole, the take-up for warehouses above 10,000 sqm in the year 2022 reached 3,331,000 sqm, with 2,413,700 sqm in French Regions and 917,300 sqm in the Greater Paris Region for transactions of this size. Compared to the year 2021, this national result is down by 12%.
More information about Q4 2022 can be found on our webpage "Market Data".