Market Summary by Catella

The Market Summary by Catella (in collaboration with Monique Benisty of MBE Conseil) provides an overview of key trends in commercial real estate with an overview and analysis of quarterly investment and rental data.

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Office Rental Market - May 2020

Q1 figures do not yet reflect the full impact of the Covid-19 health crisis. Given the lockdown only started on 17 March, it is difficult to assess its impact on the last two weeks of March.

Our vision of the office rental market
The view of Géraldine LATHAM

Take-up in Île-de-France region per quarter ​

Source: MBE Conseil according to Immostat

Take-up in Île-de-France region per quarter  ​

  • The decrease in takeup that began at the end of 2019 accelerated in Q1 2020 with the initial effects of the Covid-19 health crisis;
     
  • Take-up decreased by -37% y-o-y, totalling only 340,000 sq.m, the lowest level recorded since 2004.

Take-up in Île-de-France

The French Investment Market - May 2020

Our vision of the office Market
The view of Delphine Mutterer

As in 2019, the investment market had a record Q1 in 2020. Historically low interest rates have fuelled the significant number of major transactions concluded in the quarter.

Amounts invested in the non-residential real estate market in France 

Source: MBE Conseil

Amounts invested in the non-residential real estate market in France 

  • The market had its best first quarter in the last 12 years. Investment volumes increased by 42% compared with 2019, which was already an excellent year.
     
  • At 31 March, the health crisis had not yet impacted transaction volumes. This illustrates the solidity of the real estate market's fundamentals at the time of lockdown.
     
  • However, in light of the last few weeks and the downgraded annual growth forecasts, we are aware that this excellent first quarter does not presage an exceptional year, but rather one where increased visibility and renewed trust will be prioritised.

AMOUNTS INVESTED IN THE NON-RESIDENTIAL PROPERTY MARKET IN FRANCE