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Inside the Market / Market Trends

Looking for new office space in Paris? A new online tool offers searches by Metro line

Paris metro pic

The Paris metro map just got a little more useful for commercial real estate, with an interactive website for searching by Metro line. 

An innovative tool for businesses has just been released by Géolocaux.com that allows users to search for available commercial and office space based on preferred metro stations or lines. Users can quickly identify the price per square meter of spaces throughout the city.

The new Géolocaux.com site provides a novel and more interactive view of the market. The search results reveal how significant metro proximity and location can be, comparing prices close to individual metro stations or in certain neighborhoods, even along a single metro line. This last feature could prove to be particularly useful for companies considering the right location to cater to employees’ commutes and available housing prices.

Not surprisingly, the mapping results show that the center of Paris is home to the most expensive locations. With an average of 737 euros per year, the Invalides metro station boasts the highest price for office space per square meter.  Other top-ranked stations in terms of price include La Tour Maubourg, Varenne, Rue du Bac and Solferino. At the other end of the price spectrum, offices along the outskirts of Paris are revealed to be the most economical options at around 130 euros per square meter at metro stations like Créteil and Saint Denis.

Glancing along an entire line illustrates some interesting insights as well. Line 1, for example, which runs between La Défense and Château de Vincennes has some of the greatest variations in prices for a single line, ranging between 109 and 928 euros per year.

As may be expected, the prices of office space closely align with housing rates. The most expensive homes in Paris are found at several of the same stations, notably Invalides, Rue du Bac and Varenne. This overlap corresponds to the least expensive areas as well.

However, rates near large stations appear to be the exception to the central locale rule. Leading the pack for the most affordable office space near a large station is Saint Lazare at 500 euros per square meter, with Montparnasse and Austerlitz trailing behind.

Ultimately, Guillaume Acier, co-founder of Géolocaux.com, sees the tool as offering a new perspective on the Parisian business real estate market, but does not plan to stop there. The company is looking next to develop this service to benefit other large cities in France.

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