Tertiary real estate on the cusp of decline

Situation. Investment in commercial real estate declines in the third quarter. As far as offices are concerned, the fall in Ile-de-France is more significant than in the rest of the territory.

After a dismal first half of the year, the slowdown in the French commercial real estate investment market reached new levels over the summer. Real estate consultancy Knight Frank reports an "almost unprecedented drop" in investment in the third quarter.

Investors' expectations for real estate seem more relevant than ever.

"You have to go back to 2009, during the international financial crisis, to find such a weak quarterly result," said Antoine Grignon, director of investment banking at Knight Frank France.

Total investment in France since the beginning of the year amounted to around €8.7 billion, 58% less than a year earlier and 47% below the ten-year average.

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