Key office figures and insights for the Greater Paris Region
Almost 1.7 million sq m of take-up was recorded over the first 9 months of the year in the Greater Paris Region (-11% year-onyear); this is in line with the average of performances since 2000. The medium space segment (1,000 - 5,000 sq m) was the only one to post a year-on-year increase in activity (+3% by volume). Availability in the Greater Paris Region continued to fall with 2,790,000 sq m of vacant space by the end of September 2019 (-6% year-on-year) and a vacancy rate of 5.1%. Prime and average rental values rose across most markets in the Greater Paris Region; the benchmark prime rent in the CBD now stands at €830 per sq m/year.
Year to date, the investment volume for the Greater Paris Region market stands at €16.4 billion; this is the highest level on record for this period for the last 10 years. This volume was mainly driven by transactions in the >€100 million segment, including 3 transactions for lot sizes over €900 million. With €13.8 billion in investments, office assets remained firmly in the majority (84%). South Korean investors were particularly active over the last 9 months (20% of the overall activity). Prime yields for office and retail space may have remained stable over the last 3 months, but further compression was seen for logistics with yields now at 4.20%.