Inovista’s annual study on corporate real estate in Reunion Island reflects the ongoing economic slowdown, with a 40% drop in demand.
The stock of requests amounts to around 370,000 m² representing nearly 13,000 potential new jobs waiting to be accommodated.. “Despite mixed figures, the Reunion real estate market remains resilient. The vacation rate of 3% remains one of the lowest in France”, explains Vincent Le Baliner. Corporate real estate is still an attractive investment for Reunion investors. This year, Inovista focused on the link between the insufficient supply of business real estate and circulation difficulties. “Over the past ten years, Reunion Island experienced too low a share of corporate real estate construction compared to residential real estate, estimates the specialized agency. Thus, an average of 27 m² of business real estate is built for 100 m² of housing.. Figures very far from those of France. For comparison in the city of Lille for 100 m² of housing, 123 m2 of business real estate are emerging from the ground. The situation is all the more interesting when we go into the details of the data.. » In the north of the island, for 100 m2 of housing, 36 m2 of business real estate are emerging from the ground. The gap is even greater in the Eastern microregion with 18 m2 of professional premises per 100 m2 of housing.. “Which amounts to building living spaces in the East and working places in the North, thus accentuating territorial imbalances”, concludes Inovista.
