Cyril Robert, Head of Research, France, Savills gives his analysis of the H2 lettings and investment data which show the impact the Covid-crisis has had on market activity.
The amount of space being let in Paris was already in decline prior to the Covid-crisis and has seen a 40% drop H1 2019 vs 2020. Shortage of prime grade A space in the CBD means upward tension on rents remains but elsewhere there are signs of a decline.
Investment volumes paint a different picture, Q1 deals volumes were the highest for at least 10 years. And while activity sharply declined in Q2, the figures for the first half of the year were still above the 10-year average.
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