London ($121/sqft, 8.6% vacancy) and Paris ($102/sqft, 7.6% vacancy) compete on different axes: London on talent depth and Paris on rent and tax.
London ($121/sqft, 8.6% vacancy) and Paris ($102/sqft, 7.6% vacancy) compete on different axes: London on talent depth and Paris on rent and tax.
| Metric | London | Paris |
|---|---|---|
| Region | EMEA | EMEA |
| Country | United Kingdom | France |
| Class A rent (USD/sqft/yr) | $121 | $102 |
| Class A rent (local) | 95 GBP | 95 EUR |
| Vacancy | 8.6% | 7.6% |
| Trend | rising | rising |
| Prime yield | 4.5% | 4% |
| Premium flex / seat / month (USD) | $1,380 | $1,180 |
| Submarkets covered | 7 | 6 |
| Corporate tax | 25% | 25% |
| Metric | London | Paris |
|---|---|---|
| Typical term | 10 yrs | 9 yrs |
| Typical rent-free | 24 mos | 18 mos |
| Lease norms | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. | The bail commercial is the standard lease — 9 years with tenant break rights at year 3 and year 6. Rent is indexed annually to the ILAT or ICC indices. Rent-free of 12-24 months on a 9-year term is standard. Service charges and tax foncière are typically passed through. Restoration to original is the default obligation. |
| Tax note | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. | Headline corporate tax 25%. Local cotisation foncière des entreprises (CFE) and contribution sur la valeur ajoutée des entreprises (CVAE) add a meaningful local layer. Île-de-France tertiary tax (TSB) applies to office occupiers. |
| Metric | London | Paris |
|---|---|---|
| Talent index (0–100) | 96 | 90 |
| Talent note | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. | Strong financial-services and luxury-brand talent pool. Average all-in compensation indexes 90 vs. New York's 100. |
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Paris: RER A and the Métro span the entire QCA. The Grand Paris Express network is materially reshaping Greater Paris commute economics through 2030.
Paris is the cheaper Class A market on a USD basis.
London has the deeper talent index (96/100 vs 90/100).
Tax rates are tied.
London typical term is 10 years with 24 months free; Paris runs 9 years with 18 months free.
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. Paris: RER A and the Métro span the entire QCA. The Grand Paris Express network is materially reshaping Greater Paris commute economics through 2030.
Score London, Paris and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.