Commercial property market in the first quarter of 2026

User market in the Île-de-France region: down 28% with 185.000 m² leased

According to Elodie Marchand, co-director of the industrial division at BNP Paribas Real Estate Advisory France: "The market remains hampered by an uncertain environment, marked by a persistent lack of visibility on the user side. Users are adopting a pragmatic and wait-and-see approach, thus slowing down decision-making. In terms of available supply for the next year, it continues to grow both in the new-build sector, driven by the delivery of projects launched more than two years ago, and in the second-hand market."

Investment market in France: down 18% with €194 million invested

With nearly €200 million committed by early 2026, investment in business premises in France has declined by 18% compared to 2025, while investments in commercial real estate have fallen by 37%. Acquisitions were primarily made in the Île-de-France region, which accounts for nearly three-quarters of the total amount invested. However, no transactions exceeding €100 million were recorded during this period.

According to Franck Poizat, co-director of the industrial division at BNP Paribas Real Estate Advisory France: "With the market largely dominated by secondary assets, core investment opportunities remain very rare."

Regarding prime rates, after a slight period of compression, they are rising again and have reached 5,25%. "The evolution of prime rates for business premises will be sensitive to upcoming decisions by the European Central Bank and the financing capacity of investors," anticipates Franck Poizat.