French Regional Offices: Relative Decline in the Rental Market, with Lyon in the Lead

According to a BNP Paribas Real Estate study available to sister publication Business Immo, 809,390 square metres of office space was let in the 17 main French regional cities in the first half of 2023, down 15% on the first half of 2022, "but comparable to the first half of 2021" and "above the 10-year average by 10%", notes Jean-Laurent de La Prade, deputy managing director of BNP Paribas Real Estate Transaction, in charge of the Regions division. He adds: "By comparison, the Île-de-France region is 18% below its long-term average. Looking at Europe as a whole, we can see that Lyon is ahead of Barcelona and Amsterdam, Bordeaux is doing better than Cologne and Vienna, Lille is outperforming Luxembourg, while Toulouse is outperforming Dublin."