2023-02-10-莱坊-European_Office_Dashboard_-_Paris_IDF_Q4_2022_2页_494kb

Occupier Market Headlines (Q4 2022)

• Paris Ile-de-France Office Take Up: Q4 2022 recorded 616,000 sqm of office space let or sold, representing a 26% quarter-on-quarter increase. Annual take-up for 2022 totaled 2.19 million sqm, a 16% rise from 2021 and nearly reaching the ten-year average.
• Demand Trends: Demand from coworking and education sectors was stronger than in 2021, while tech company activity slowed due to reduced fundraising and valuation decreases.
• Vacancy and Rent: Average vacancy rate was 2.6%, with average rent of €480. Rental conditions in suburban areas became more favorable (sometimes with incentives >30%), widening the gap with high-end markets like inner Paris, where rents continue to rise.

Economic Indicators (France, Q4 2022)

• New Businesses: Growth over the last 7 years, with a minor dip during the pandemic; momentum slowed in 2022 but has since shown recovery signs.
• Unemployment Rate: Slightly upward trend, expected to increase further amid economic uncertainties.
• Service Employment Expectations: Fluctuations in Q4 2022; levels remained within pre-COVID norms and are expected to improve in 2023.
• Services PMI: Dipped to 49.50 in December 2022, entering contraction territory; however, business sentiment improved as input price inflation eased.

Contact Information

• David Bourla: Head of Research, Email: david.bourla@fr.knightfrank.com, Phone: +33 1 43 16 55 75.
• Guillaume Raquillet: In-house Research, Email: guillaume.raquillet@fr.knightfrank.com, Phone: +33 1 43 16 88 86.
• Colin Fitzgerald: Head of Occupier Strategy & Solutions EMEA, Phone: +44 20 7861 1203.