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Inside the Market / Market Stats

Work not play: the most sought-after (and pricey) office spaces for rent in Paris

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Specialized French commercial property listing site BureauxLocaux.com recently released the results of its research identifying the top 5 most expensive and desirable neighborhoods in Paris for office property.

The Etoile/Champs-Elysées neighborhood came out the clear leader. The so-called “Golden Triangle,” bordered by the Avenue des Champs-Elysées, the Avenue Montaigne and the Avenue George V, maintains the top position in the central business district. Here, the office market commands rents of €380 to €530 per square meter per year.

Next in line is the neighborhood around the Saint-Lazare train station in the 9th arrondissement. The station is the second busiest in Europe, with 100 million people passing through every year. A location close to the station is considered a big advantage both for business owners and their employees. Rental values are between €390 and €490 euros/m2/year.

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Other sought-after sectors include the neighborhoods around the Grands Boulevards and the Bastille, both of which are on the rise.

The area between the Rue Cadet and the Rue du Faubourg Poissonière on the borders of the 9th and 10th arrondissements is 10 minutes away from the Gare Saint-Lazare. But rents here are 15 to 20% less than in the central business district, at between €265 and €400.

The Bastille neighborhood, at the intersection of the 11th and 12th arrondissements, is trendy and dynamic, attracting designers, architects and stylists. Rental values are €330 to €350/m2/year.

Finally, the Sentier/Strasbourg Saint-Denis neighborhood in the heart of the 2nd arrondissement has become the favorite for Internet and technology businesses in the city. Nicknamed ‘Silicon Sentier,’ rents here start at €240 and can reach as high as €450/m2/year.

Photo credit: Dennis Trigylidas

Read more about commercial real estate in Paris: 

Property investment manager AEW plans to spend €4 billion on European real estate

A dynamic year for French commercial property, with investment of €23.8 billion

Paris’ Champs-Elysées has the most expensive retail rental values in Europe

La Tour Blanche in Paris’ La Défense business district has changed hands for €161 million

 

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