The 28th edition of the study of Greater Paris Office Crane Survey highlights the trend that is taking shape for 2015 : the established sectors constitute the backbone of the production new of offices while the secondary markets are demonstrating a real lethargy. Despite a slight loosening of geographic, Paris intra-muros, the Business Sector of the West and The Defense always collect more than 70% of the production and the activity of the rest of the small crown is stagnating.
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“The market of the Metropolis of the Grand Paris absorbs annually more than 500 000 m2 of new offices. The supply immediately available is much lower than this level and the evolution of future supply in some shows that the situation will continue to contract the scale of the Metropolis by 2017, and 2018. The geographical disparities are likely to increase strongly, between an offer concentrated in Paris intra-muros, and a shortage of available office space to rent attractive in the other metropolitan sectors. The rebalancing in the medium term will be if the developers launch today of operations in white in the taut areas, ” says Brice Chasles, Associate, Real Estate Advisory at Deloitte.
Paris : in the waiting for a wave of deliveries history
Once again, Paris dominates the production new metropolitan. After two years as positive as atypical, the capital account 55 cranes totalling nearly 740 000 m2 site, close to the historical peak reached in 2016 (780 000 m2).
The report stresses once again the polarization of the activities of the Grand Paris. The capital concentrates 45% of the area currently under construction across the metropolitan region.
The geographical realignment previously observed is confirmed. 70% of the volume under construction in Paris is located in Paris Centre West, of which more than half in the Central Business District. Intra-muros, the production of new moves to areas of historic Paris Centre West represents 45% of the surfaces starts, the 12th, the 13th, the 14th and the 15th pass under the 40% mark.
The capital lies in wait for a wave of deliveries history that will generate significant availability by the end of 2017. No less than 400 000 m2 are expected by the end of the year, half of which was available at 31 march.
The Western side of paris : the rebound of production in new sectors established is confirmed
With 35 projects developing 700 000 m2 to march 31, 2017, the department of the Hauts-de-Seine note a rebound of the stock production. In fact, the study reports an increase of 12% in six months and almost 50% year on year.
The situation of the Hauts-de-Seine, however, is mixed :
Business sector of the West : this dynamic area has a high level of production very high (440 000 m2, more than 60% of the stock of the department.
The Defense : the re-launch of the activity seen in the last edition of the study is confirmed through two major operations that make up the stock of production to approximately 200 000 m2.
Rest of the Hauts-de-Seine : the situation is close to the point historically the lowest with only 60 000 m2 of construction.
In terms of construction, the department is experiencing a contraction, with 155 000 m2 launched in 9 operations, including 3 programs in excess of 20 000 m2. These figures are largely borne by the Sector of Business of the West and The Defense.
The North and East of Paris : the absence of supplies maintains the stock of production
Although the signs of recovery observed last year may not have not confirmed this winter, the very low level of deliveries helps maintain the outstanding production.
Four new cranes developing the 45,000 m2 appeared in Seine-Saint-Denis and Val-de-Marne. Housing starts in the North and East of Paris are still below the historical average as assessed by the study.
The Paris Office Crane Survey has 190 000 m2 of production that is new, a result less than 100 000 m2 to the average over the thirteen years of the existence of the study. In spite of the inertia of the construction starts on the perimeter, the production of newfoundland recorded an increase of +30% over the six months studied. This is explained by the very low level of deliveries : less than 8 000 m2 spread over three operations were delivered this winter.
Deloitte refers to one or more member firms of Deloitte Touche Tohmatsu Limited, a company incorporated under English law (” private company limited by guarantee, and its network of member firms incorporated and independent entity legally separate. For more information on the legal structure of Deloitte Touche Tohmatsu Limited and its member firms, visit www.deloitte.com/about. In France, Deloitte SAS is the member firm of Deloitte Touche Tohmatsu Limited, and professional services are rendered by its subsidiaries and affiliates
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