JLL: highlights abundance of supply in Paris office market
Jones Lang LaSalle IP Inc. noted in its 1Q15 quarterly review of the greater Paris office market that the vacancy rate is 7.6%. Prime rents have generally been falling, and incentives to tenants have been generous. Investment in offices in greater Paris in 1Q15 was EUR3,565mn, or 13% more than in the p.c.p. JLL is looking for 2.2mn square metres of office space to be leased in 2015 and for headline rents to be maintained at current levels. However, landlords may have to provide incentives to attract or retain tenants.
Source : 31 March 2015/JLL/Paris/OFF