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Research

Report

The new offices production in the Greater Paris Region 2016


- The pace of production slowed down in 2016 with just 650,000 sq m of new or refurbished offices completed. The production rate should be more sustained over the next 3 years and we have counted almost 1.7 million sq m of offices under construction throughout the Greater Paris Region, 45% of which is pre-let.

- The marketing period of buildings in the Greater Paris Region remained almost the same from one year to the next. Almost half of the space completed in 2016 was let during its construction, compared to 56% in 2015.

- Forward funding sales followed this trend: after a particularly dynamic 2015 for such sales, they once more capitalised on the buoyant market in 2016 with nearly 2.6 billion euros invested (vs 2.3 mds in 2015).

- On the 21 forward funding sales deals signed, 18 were for 100% speculative developments (1.8 billion euros compared to 1.3 in 2015). In 2017, the number of forward funding sales could be lower than those seen in 2015 and 2016, mainly due to a lack of projects with a construction permit or in the process of obtaining one.

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