Real estate adviser Savills is predicting that investment volume in France will total between EUR 10-12 bn in 2010, compared to EUR 7.9 bn in 2009. This is still below the 10-year average of EUR 14 bn. In the first quarter, investment volume doubled to nearly EUR 1.8 bn.
Real estate adviser Savills is predicting that investment volume in France will total between EUR 10-12 bn in 2010, compared to EUR 7.9 bn in 2009. This is still below the 10-year average of EUR 14 bn. In the first quarter, investment volume doubled to nearly EUR 1.8 bn.
Large office deals currently under negotiation include the purchase of part of the Capital 8 office business centre in Paris CBD by Allianz, and the acquisition of the ZAC Claude Bernard in the north of Paris by SEB Immobilien.
Lydia Brissy, head of research in France, said: 'The CBD office market in Paris will remain a top investor pick in 2010 due to the forecast rental growth of around 5% for prime CBD rents. However whilst the credit market has slackened, sentiment is still cautious and so investment volumes will remain down relative to 10-year averages.'