Businesses are moving from suburbs to city centers

The commercial real estate market is on the rise again. After a big plunge in 2020, this year is the year of recovery. But also that of major transformations. In Ile-de-France, we observe a migration of the largest companies, the richest too, towards the beautiful districts. Central places, well served by public transport, which make employees want to go to the office rather than being at home as much as possible. There are also arguments to attract new talent.

Result: the suburbs are neglected. In the first and second suburbs of Paris, the offices can no longer find takers. The further they are from the capital, the less they are in demand. Even in the inner suburbs, very close to Paris, offices have more difficulty leaving than in previous years. The movement should last. Even La Défense is affected. It recorded a 41% drop in the volume of offices placed compared to 2020. Suddenly, the district is trying to make itself felt: revegetation of the famous pedestrian slab, creation of an urban park of seven hectares and somewhat cycle paths. all over. Clearly, the offices are going out of their way to give employees back the desire to take it back.

The health crisis having emptied the offices of a good part of their occupants, the costs related to the exploitation of these surfaces are in sharp decline, according to the very last study of Arseg, the Association of the directors of the environment of work. The amounts invested globally in the work environment in 2021 are 584 euros per square meter. This is a decrease of 26% compared to 2019, before the crisis.

The greatest reduction is that linked to employee travel. This category of workstation expense has literally collapsed. Likewise, employee services fell by 32% per square meter and per workstation. Employees, less present, frequent the company restaurant much less, for example. Ditto for expenses related to security or energy consumption, in sharp decline. As a result, the costs associated with occupying offices are falling. And according to Arseg it is not over, these trends could accelerate in the years to come.

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