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The office market in the Greater Paris Region

Economic recovery not yet seen in results

Rental market

Since the beginning of the year, take-up in the Greater Paris Region stands at 1,765,500 sq m, representing a slight 2% increase compared with the same period in 2016.
There were 50 transactions for spaces over 5,000 sq m; a level of performance that has not been seen since 2012.
By the end of September, immediate supply remained at 3.5 million sq m with a stable vacancy rate of 6.7%. With an average vacancy rate of close to 3%, Paris is currently suffering from a lack of supply.
There was no year-on-year change in prime asking rents which stood at €750 in the Central Business District and €505 in La Défense for Q3 2017.

Investment market

€4 billion was invested in the Greater Paris Region over Q3 2017, taking the overall year-to-date investment volume to €9.4 billion; this represents a 26% year-on-year decrease.
This decrease was mainly due to a lack of mega-transactions as only one transaction for more than over €500 million was recorded.
Foreign investors were very active over Q1, but have been more subdued over the last six months.
Prime office yields remained stable in Paris over Q3 2017. However, the wave of yield compression continues to travel across the Western Crescent and the Inner Suburbs.​

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