Cushman & Wakefield MarketBeat reports analyse quarterly Luxembourg commercial property activity across office and retail real estate sectors including supply, demand and pricing trends at the market and submarket levels.
ECONOMIC OVERVIEW
In the dynamic landscape of the Luxembourg office market, where contrasts abound, we find ourselves at a pivotal moment. Recent signals from financial authorities hint at potential shifts in the macroeconomic environment, echoing both uncertainty and opportunity.
Office
OCCUPIER FOCUS
The recently recorded take-up level has now become the annual norm. Undoubtedly, there is a noticeable hesitancy in occupier demand in light of the challenging economic environment.
INVESTMENT FOCUS
The Luxembourg office investment market kicked off 2024 with a bang, despite recording only one transaction in Q1. This single deal, however, was a record-breaker, showcasing continued investor confidence in the city's prime office segment.
OUTLOOK
In early 2024, the Luxembourg economy is showing signs of stabilization. Although full recovery is still on the horizon, recent data and projections suggest a cautiously optimistic outlook. This resurgence is credited to ongoing consumer spending, heightened government investments, and a renewed strength in exports.
Download our Office market report below.
Retail
LETTING MARKET
The final and fourth quarter of 2023 witnessed a take-up of 11,800 sq m, bringing the total for the year to 33,060 sq m in the Luxembourg retail letting market.
INVESTMENT MARKET
No notable transaction was recorded in the second half of 2023, which results in only one significant transaction in the retail investment market.
OUTLOOK
Luxembourg's economy has experienced a notable decline below the Eurozone average due to the substantial influence of the global economic climate.
Download our Retail market report below.
