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Business real-estate
760,847 m2 in commercialised office space
Although it had already crossed the 600,000-m² threshold during the first quarter 2011, office space take-up in the Paris Region did even better in the third quarter.
And, with close to 761,000 m², it was one of its best showings since 2000 (second only to the 790,000 m² achieved in the fourth quarter 2006 and the 767,000 m² reached in the first quarter of the same year).
As a result, office space commercialised last summer was up 43.7% as compared to the same quarter in 2010 and up 60.2% as compared to the average for all third quarters from 2001 to 2010. This result should however be put into perspective, since it is mostly due to major transactions that had been planned long beforehand (SFR in Saint-Denis, Carrefour in Massy, Thales in Gennevilliers and others). In any event, even if this dynamic momentum were to be no more than an occasional occurrence given the current international economic and financial outlook, it has caused the average Paris Region rent to climb by €5 over the course of one quarter to €318, and so to approach the historical high of €322 seen during the fourth quarter 2008.
Quarterly progression in take-up for office space
and in average rents in the Paris Region
Source: GIE Immostat
update March 8, 2012
