Paris Office Take-up Falls

PARIS-Office take-up in the French capital during the first half of 2001 was down by 20% on the same period in 2000 according to new research from CB Richard Ellis. However a continuing tight supply, especially in the prime office districts, is underpinning rents.

CBRE’s latest Paris Market Index says many occupiers are taking a “wait and watch” approach, and the brokers are not forecasting a massive surge in take-up during the second half. Therefore CBRE is forecasting between 1.8 million and 2.0 million sq m (19.373 million to 21.5 million sf)of take-up for the whole of 2001, down from 2.3 million sq m (24.75 million sf) in 2000.