French retail space continues to perform well | 17 September 2013
Retail space remains the best performing property type in France by some distance, according to new figures.
The IPD France Biannual Property Index indicates that the total return for retail buildings was 3.6 per cent for the first half of this year, whilst capital values grew by 0.8 per cent and yields remained steady too.
However, it was a completely different story for France’s office space market, which gave a return of -1.6 per cent in H1 2013.
Commenting on the figures, IPD executive director Stephanie Galiegue pointed that Paris was fast becoming a market of its own.
She told property-magazine.eu: “These results reflect a mixed start to the year for offices, with vacancy increasing to some extent, and incomes and capital values falling except in Paris, where the market is relatively stable.”
Paris’s office space market could soon dramatically improve, after plans for a skyscraper taller than the London Shard were released.
According to bloomberg.com, the project involves two 320 metre high towers in the La Defense business district. As well as offices, it will house luxury apartments and a five-star hotel.
If the plans are accepted, it will become the second-biggest building in the French capital, behind the Eiffel Tower.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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