AN OFFICE MARKET WITH SOLID FUNDAMENTALS DESPITE THE

AN OFFICE MARKET WITH SOLID FUNDAMENTALS DESPITE THE

Take-up in office real estate in Lyon at the end of September 2020 amounted to 161,550 m², a drop of nearly 50% compared to 2019

However, this figure remains to be put into perspective given the exceptional performance of the previous year, driven by mega-deals. That is a decrease of only 15% compared to the ten-year average.

This correction in take-up must be attributed to the impact of the health crisis on the economy. Indeed, “  the explosion of telework and the lack of visibility have blocked the decision-making process of companies  ” indicates Loïc de Villard, Director of the CBRE Lyon Agency . These need to reflect on the impact of these two elements in this unprecedented context, and therefore remain rather wait-and-see.

The unprecedented health and economic situation have especially impacted major transactions The average transaction is down 27% compared to 2019 and falls to 525 m². Learn more about nekretnine.

The proportion of transactions over 1,000 m² fell from 67% to 57%.

As a result, only 4 transactions of more than 5,000 m² have been signed since the start of the year, compared to 10 over the same period last year and have naturally led to a sharp drop in the share of new buildings in volume, from 68 % to 47% in 2020.

With regard to the attractiveness of the business districts , Gerland and Part-Dieu are still the sectors most popular with users. The Vaise sector in the top three last year has been replaced by Techlid. This is the consequence of the many transactions linked to Crédit Agricole and the few offers available on Vaise.

The stock of offers remains relatively stable despite the health crisis, keeping the vacancy rate at a low level of 3.6%. Nevertheless, this rate could rise in the medium term, while remaining under control.

 “Despite the resistance of the health crisis, the recovery plan and all the support measures for businesses should make it possible to maintain sustained activity, especially in areas of less than 1,000 m², and the level of sales remains high”,  however reassures Loïc of Villard.

The investment market remains attractive with 690 million euros invested cumulatively in the 3rd quarter, and should reach 1 billion euros by the end of 2020.

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