Paris Office Sales Fall to Lowest in 15 Years in First Quarter
- Investments in city’s commercial real estate sank 64% by value
- Average office price reached lowest level since 2017
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Investments in Paris commercial real estate continued to decline in the first quarter, hitting the lowest level in 15 years.
Total deals for properties including offices, retail space and warehouses in the greater Paris area sank 64% from a year earlier to €885 million ($959 million), according to statistics provider Immostat, whose figures only include deals by investors who seek to earn rent income. This is the lowest quarterly level since the second quarter of 2009.