Paris

As a global city with a population of approximately 2.2 million*, Paris is home to the world’s leading retail, hotel, logistics and office markets. From Paris’ Central Business District (Paris CBD), teeming with retail and tourism hotspots, to its surrounding suburbs, vibrant with new business districts and mixed-use developments, the Parisian property market has much to offer potential occupiers, investors and banks.  

The city of Paris is constantly transforming and urban development projects such as “Reinvent Paris,” and “Reinvent the Seine” are changing the cityscape. The programme, now in its second phase, is an open call for innovative projects to increase the number of hybrid and mixed-use spaces across the city.

Paris' main submarkets: CBD, La Défense, Western Crescent and Inner and Outer Suburbs

Paris’ central business district near Opera is considered one of the most buoyant in the Paris region. Vacancy rates were at a record low in 2016, prompting investors to support refurbishment schemes in the area. Volumes remained high with 569,000 sq m taken up in the broader CBD area.** 

Parisian occupiers, investors and banks seeking larger office space near the city centre turn to neighbourhoods in Paris’ outlying districts. Districts such as La Défense, have long attracted foreign occupiers thanks to direct connections to central Paris via suburban trains. 

Other districts attract occupiers looking to build new headquarters at a short distance from Central Paris. These include Western Crescent and Inner and Outer Suburbs.

Western Crescent, which encompasses neighbourhoods west of the Seine, includes Southern River Bend, Péri-Défense and Northern River Bend. Southern River Bend is home to prime business districts such as Issy-les-Moulineaux and Boulogne-Billancourt. Paris’ major media and telecommunications companies are headquartered there, benefiting from proximity to public transport and motorways linking the areas to central Paris. Both districts have attracted occupiers to buildings that include services for well-being as well as green spaces.

Péri-Défense is the area just outside of La Défense, and has become a spill-over district for those seeking to remain close to La Défense’s main business centre. Reuil Malmaison is one neighbourhood experiencing an expansion as major multinational companies move their headquarters to the area. 

Northern River Bend covers markets near the Seine River and its transport hubs. Buildings in the area are built over former industrial sites. 

Finally, Paris’ inner and outer suburbs include Massy and Vélizy-Villacoublay. The most represented sectors in the area are ICT, services and industrial groups. 

Paris’ many submarkets and diversity of assets have long attracted interest in all sectors of activity. With a clear understanding of the subtleties of each of the city’s property markets, our valuers can guide you in the valuation of your property in the city of lights.   

*Source: UN
**Source: BNPPRE Guide to Investing in Paris 2017
***Source: BNPPRE Office Handbook 2017