Recovery with a backdrop of transformation
The uptick seen in economic activity is reassuring and offer a glimpse of an end of the crisis and the resultant transformation seen in the office real estate market.
Transactional activity in the Greater Paris Region continued to recover over Q3. At the end of the first 9 months of the year, take-up stood at 1,2 milion sq m of office space, representing a +32% increase compared with the same period in 2020. However, this performance does also need to be considered against the precrisis figures recorded in 2019 when take-up stood at 1,7 milion by the end of Q3. As transactions gradually star to recover, we expect the full-year volume of take-up to rreach 1,6 to 1,7 million sq m, rising to around 2 million in 2022.
Download our economic note to find out more!