Paris further through the office rental value correction

Paris has been among those Western European cities which have seen the sharpest declines in office rental values to date. However, we do not think that Paris has suffered disproportionately. Rather, government support packages for labour markets in other countries have helped prevent larger job losses and declines in rental values. We think that the impact of these schemes may yet fade, which could result in bigger falls in office rental values in those markets in due course.