The Ile-de-France Office Rental Market - July 2021

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

The office market in the greater Paris region regained momentum in the first half of 2021 with a 14% year-on-year increase in take-up.

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

Source: MBE Conseil according to Immostat

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

  • Take-up totalled 766,000 sq m in the first half of 2021, a 14% year-on-year increase;
     
  • However, this is still well below the average takeup for a second quarter, which is 540,000 sq m over the last 20 years.

Take-up in Île-de-France

The French Investment Market - July 2021

Our vision of the French Investment Market
The view of Delphine Mutterer

A second-quarter decline in investment volumes, a reality that should not conceal promising sources of satisfaction for an expected rebound.

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 investment market was down 24% from Q2 2020, with barely €3 billion invested, well below the 10-year average of second quarters with €5.84 billion;
     
  • Over the entire first half of the year, there was a cumulative decline of nearly 39% compared with 2020, which itself was down compared with the trend of previous years;
     
  • Over this past quarter, the market was clearly driven by major portfolios diversified in logistics, health, and open-air hospitality. The office segment struggled to mobilise on large transactions, with only two over €100 million, both sold by Icade: MILLENAIRE 1 in the 19th district of Paris and the LOIRE building in Villejuif.

AMOUNTS INVESTED IN THE NON-RESIDENTIAL PROPERTY MARKET IN FRANCE