According to statistics from Immostat, office take-up in the Greater Paris Region fell by 19% in H1 2013 compared to H1 2012 to 832,900 sq m. The Economic Interest Grouping, Immostat (formed by real estate advisors BNP Paribas Real Estate, CBRE, DTZ and Jones Lang LaSalle) has released figures showing that 407,500 sq m was transacted in Q2 2013, 20% lower than levels seen in Q2 2012.
As at 30 June 2013, immediate office supply in the Greater Paris Region rose slightly (+3%) to 3,684,000 sq m. The average headline rent for second-hand offices in the Greater Paris Region (based on completed transactions) stood at €310 per sq m/year excluding taxes and charges representing a 3% quarter-on-quarter fall.
The logistics sector did not fare better. In H1 2013, take-up for warehouses over 5,000 sq m in the Greater Paris Region (including the southern Oise area) fell by 43% compared to H1 2012 to 177,700 sq m. On a national level, take-up for warehouses over 10,000 sq m stood at 771,400 sq m in H1 2013, posting a 15% increase compared to H1 2012.
The investment market also saw significant decline. The level of overall investment in commercial real estate in the Greater Paris Region in H1 2013 stood at €4.3 billion, down 13% compared to H1 2012. Immostat estimates to investment volume for Q2 2013 at €2.5 billion, down 30% compared to Q2 2012.
Translated from an original French article on BusinessImmo.
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