Demand for offices in Île-de-France is slowly picking up

Between January and March, 451.700 square meters of offices were newly rented or sold to an occupant, up 1% compared to the same period of 2023, according to a press release from Immostat.

The available office space in Île-de-France has never been higher, standing at 4,9 million square meters, up 11% compared to its level a year ago.

The volume of office sales to investors in France fell again, to 1,7 billion euros, a drop of 55% compared to the first quarter of 2023.

In Île-de-France, the drop is more pronounced, of 64% during this period, to 0,9 billion euros.

“The slowdown in investments in the tertiary sector continues and this is bad news,” reacted Frédéric Goupil de Bouillé, of the Association of Real Estate Directors.

However, "the challenges of ecological transition will not be achieved without the massive involvement of investors", he continued, recalling that the expenditure necessary to achieve the objectives of the Tertiary Eco-Energy System is of the order of 15 billion euros, compared to 3 to 4 billion today.

The average price of offices purchased in Île-de-France between January and March amounts to 6.210 euros per square meter, which represents a drop of 19% over one year, according to Immostat.

The average rent excluding taxes for new leases in Île-de-France amounts to 427 euros per square meter per year for new or restructured premises, stable over one year, and 441 euros for second hand, up by 3% over one year.