Key office figures and insights for the Greater Paris Region
Q4 2019
Key points:
Full-year office take-up in the Greater Paris Region stood at over 2.3 million sq m in 2019, representing a 10% year-on-year decrease. Nevertheless, these results are above expectations and are higher than the 10-year average. All space segments were affected by this decrease. Immediate supply in the Greater Paris Region fell once again over the last 3 months to 2,718,000 sq m by the end of 2019 with a vacancy rate of 5.0%. The prime rent in the Paris CBD reached a new record of €860/ sq m/year (+6% year on year)
In 2019, the investment volume in the Greater Paris Region reached a record of €26.9 billion. This performance was mainly driven by transactions in the >€100 million segment, including 2 mega deals for lot sizes over €1 billion. With €21.7 billion in investments, office assets remained firmly in the majority (81%). For the first time ever, the most active foreign investors in 2019 were South Korean (8% of the overall activity). Over the last quarter, prime yields remained stable for all asset types.
