A mixed landscape: overall market trends in H1 2025
The Aix-Marseille business real estate market experienced a significant decline in investment during the first half of 2025. Total investment volume reached just €68 million, representing a 47% drop compared to the first half of 2024 and an alarming 80% below the five-year average.
Notably, no transactions exceeded €40 million, with 42% of deals falling under €5 million. This indicates a cautious investment climate, primarily focused on smaller-scale acquisitions.
Diving into the office market dynamics
Office investments and overall demand
Offices remained the dominant asset class for investment in H1 2025, accounting for €57 million, or 85% of total volumes. Key transactions included Finamas' acquisition of a 3,300 m² building in Marseille and Finolax's purchase of the 3,100 m² “Le Palatin” building in Aix's business park.
The Aix business park significantly increased its share, concentrating 41% of the invested volume. Overall placed demand for offices in the Aix-Marseille area saw a 13% year-on-year increase, totaling 64,347 m² commercialized.
However, this figure is 10% below the five-year average, and a continuous downward trend in the number of signed deals (134) suggests ongoing market fragility.
Marseille: navigating a sluggish office market
The Marseille office market experienced a challenging first half, with commercialized volumes reaching 25,673 m². This marks a 16% decrease year-on-year and a 37% decline compared to the five-year average. The Euroméditerranée central business district, typically a key driver, lagged 46% behind its five-year average due to an unfavorable context and a growing scarcity of suitable supply.
While the release of second-hand premises swelled immediate supply to 185,440 m² (up 21% year-on-year), the weakness of new supply (only 24% of immediate supply, with less than 20,000 m² available) continues to impact the market's performance.
Prime rental values in Marseille remained stable at €320/m²/year (€305 excluding IGH), while average values for new builds showed a slight decline to €200.
Aix-en-Provence: a beacon of office growth
In stark contrast to Marseille, Aix-en-Provence's office market demonstrated robust performance. With 38,674 m² commercialized, the city captured a significant 60% of the metropolitan placed demand. This represents a substantial 45% increase year-on-year and a 26% rise compared to the five-year average.
The Aix market benefited significantly from new build offerings (accounting for 45% of volume) and strong interest from large users (20,600 m², up 86% year-on-year).
JLL notes that Aix's market “benefits from a qualitative offering meeting the new standards required by users.” Prime rental values were stable at €250/m²/year in Aix-en-Provence city center and €195 for its business park, with average new build values at €181 in the Aix area.
Activity premises & logistics: a segmented performance
General activity premises downturn
The broader market for activity premises in the Aix-Marseille-Provence metropolitan area also experienced a downturn, with placed demand decreasing by 31% compared to H1 2024, totaling 40,472 m² commercialized.
Logistics sector: a resilient performer
Amidst the general decline, the logistics sector emerged as a significant positive. Placed demand for warehouses registered a 32% increase compared to H1 2024, reaching 121,618 m².
This strong performance in logistics provides a crucial counterpoint to the broader market trends. However, the improvement remains somewhat fragile, as the second quarter of 2025 saw a 33% decline compared to the second quarter of 2024.
Key rental value trends
Despite the mixed market dynamics, prime rental values across the Aix-Marseille area remained stable. In Marseille, prime office space held at €320/m²/year (€305 excluding IGH). Aix-en-Provence city center maintained €250/m²/year, with its business park at €195/m²/year. However, average values for new builds saw a slight decline, settling at €200 in Marseille and €181 in the Aix area.
Conclusion: strategic choices for businesses
The Aix-Marseille commercial real estate market in H1 2025 presents a nuanced landscape. While overall investment is down and the number of deals has decreased, distinct opportunities exist. Businesses seeking modern, high-quality office space may find Aix-en-Provence particularly attractive due to its strong new build market and user-centric offerings.
In Marseille, while the market faces challenges with supply, potential for value may be found in existing premises. The logistics sector stands out as a robust area of growth, offering compelling options for warehouse needs. Navigating these regional differences is key to making informed decisions for your business's real estate strategy.
Source: mesinfos.fr
