CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Luxembourg Real Estate Market View

25/03/2021

The Luxembourg economy has been hit hard by the COVID-19 pandemic, although the impact is more limited compared to other European economies. However, the unemployment rate rose, business and consumer confidence declined, and business perspectives have been lowered. The second wave of the pandemic has also hit the economy with the long closure of non-essential shops (only reopened as of 11 January 2021) while cafés and restaurants will remain closed until March 2021. 

However, take-up reached a new historical record of more than 350,000 sq m. Nevertheless, companies continue to move to a more hybrid way of working, combining working from home and office.  

On the retail market, rents are under pressure, though expected to remain relatively stable throughout 2021 after having experienced declines in 2020 in the high streets and shopping centres segments as activity and footfall were below average levels. However, letting activity was in line with the last- year's average.  

On the investment market, appetite remains high for the best assets though investors are increasingly cautious. However, some significant transactions could find a positive outlook in 2021 as this concerns very qualitative assets, with highest environmental performances and a strong occupancy. On the retail market, the situation will be more mitigated though out-of-town retail should continue to witness interest, especially where a food retailer is present.  

 


10 February

The Luxembourg economy has been hit hard by the COVID-19 pandemic, although the impact is more limited compared to other European economies. However, the unemployment rate rose, business and consumer confidence declined, and business perspectives have been lowered. The second wave of the pandemic has also hit the economy with the long closure of non-essential shops (only reopened as of 11 January 2021) while cafés and restaurants will remain closed until March 2021. 

After low activity levels observed in the office market in Q2, activity boomed in the occupier market in Q4, with notable deals in the public sector. As a result, take-up reached a new historical record of more than 350,000 sq m. In the retail market, rents are under pressure, though expected to remain relatively stable after having experienced declines in 2020 in the high streets segment as activity and footfall fell below average. However, letting activity was in line with the last-year’s average. On the investment market, appetite remains high for the best assets though investors are increasingly cautious. 

To achieve a well-sequenced lifting of the lockdown restrictions and limit the impact of the second wave of COVID-19 infections, the Government announced a large-scale fiscal package to mitigate the consequences of the virus outbreak, while it also decided to close the border with Belgium for non-essential travel. 

 


13 January

The Luxembourg economy has been hit hard by the COVID-19 pandemic, although the impact is more limited compared to other European economies. However, the unemployment rate rose, business and consumer confidence declined, and business expectations have been lowered. The second wave of the pandemic has also hit the economy with a long closure of non-essential shops (only reopened as from 11 January 2021) while cafés and restaurants will remain closed until March 2021. 

After low activity levels observed on the office market in Q2, activity is now picking up again with notable deals in the pipeline, both on the investment and occupier market. On the retail market, rents are under pressure, though expected to remain relatively stable after having experienced declines in 2020 in the high streets segment as activity and footfall were below average levels. However, on the investment market, appetite remains high for the best assets as there is plenty of liquidity on the market. 

To achieve a well-sequenced lifting of the lockdown restrictions and limit the impact of the second wave of COVID-19 infections, the Government announced a large-scale fiscal package to mitigate the consequences of the virus outbreak.

 


13 October

Luxembourg’s economy will contract sharply this year as a consequence of the COVID-19 crisis. The combined supply, demand and financial shock of the crisis means GDP is expected to contract by 6.2% in 2020, before growing almost 10% in 2021. Risks remain to the downside, linked to the effectiveness of the containment measures and the long-term consequences of disruption to the economy.  

After low activity levels seen in the office market in Q2, activity is now picking up again with notable deals in the pipeline, both in the investment and occupier markets.  

In the retail market, rents are under pressure and experienced new declines in Q3 in the high street sector as activity and footfall remains below average levels. However, on the investment market, appetite remains high for the best assets as there is plenty of liquidity in the market. In response to the outbreak, the Government has taken a wide range of health and containment measures to curb the spread of the virus and protect vulnerable groups.  

Furthermore, the Government adopted a large fiscal stimulus package to bolster the resources for the health system and help maintain businesses and jobs. The measures consist of €2.3 billion in fiscal spending and €8.1 billion of liquidity support. Together with the European aid package announced recently, these measures will mitigate the losses related to coronavirus, supporting workers’ incomes, and providing liquidity for companies.

Articles associés

Inclusive Cities Barometer
Insights • Sustainability / ESG

Inclusive Cities Barometer

Sophie Schuller • 02/07/2024
Data Centre in Belgium.jpg
Insights • Technology

Data Centres in Belgium: A growing hub for technology

As technology continues to evolve and permeate both consumer and business landscapes in Belgium and globally, the interest in data centres has surged.
11/06/2024
Office Fit Out Cost Guide - Web card
Insights • Workplace

Office Fit Out Cost Guide

Améliorez votre environnement de travail en Belgique avec notre Guide des coûts d'aménagement des bureaux en 2024. Commencez dès aujourd'hui la transformation de votre espace de travail dans des villes historiques, mais tournées vers l'avenir comme Bruxelles !
15/04/2024
pillows on hotel double bed
Research • Valuation

Hospitality Market Trends & Data

The latest hospitality market insights are based on the in-depth analysis of our extensive data sets, surveys of investors, operators and lenders and up-to-date market intelligence from our team members on-the-ground in all major European markets.

Bořivoj Vokřínek • 14/03/2024
office with lights
Research • Economy

European Outlook 2024

Tailored for investors and property owners, our insights offer a clear path through the complexities of today’s market.
Sukhdeep Dhillon • 11/12/2023
main streets across the world 2023
Research

Main Streets Across the World 2023

In this 33rd edition of Main Streets Across the World, we’ll explore the near-term outlook for the retail sector; headline rent and ranking changes for best-in-class urban locations across the world; key indicators and global main street rankings; and key trends to watch such as the cost-of-living crunch, e-commerce and more.
21/11/2023
Belgian Life Sciences
Insights

Life sciences in Belgium

Get unique perspectives on today’s life sciences market in Belgium and discover why this market becomes a focus for both occupiers and real estate investors. 
13/09/2022
Belgian hospitality industry
Insights

Le secteur hôtelier en Belgique

Cushman & Wakefield Hospitality présente son bilan de performance 2020 pour le marché hôtelier belge, ainsi que des informations sur la région du Benelux grâce a sa nouvelle série d'enquêtes du marché hôtelier auprès des opérateurs hôteliers, l'OperatorBeat. 
04/03/2021
Prague, Czech Republic
Research • Economy

Czech Real Estate Market View

A regular update on the commercial real estate market in Czech Republic.
Marie Baláčová • 27/04/2023
Bratislava, Slovakia
Insights • Economy

Slovakia Real Estate Market View

A regular update on the commercial real estate market in Slovakia.
Lukáš Brath • 16/03/2023
Looking out over Buda castle, Budapest
Insights • Economy

Hungary Real Estate Market View

A regular update on the commercial real estate market in Hungary.
Edit Jakab • 01/01/2023
couple with face masks on Milan street
Insights • Economy

Italy Real Estate Market View

A regular update on the commercial real estate market in Italy.
Raffaella Pinto • 23/09/2022
Rome
Insights • Economy

Spain Real Estate Market View

A regular update on the commercial real estate market in Spain, reflecting all our service lines: Offices, Industrial, Capital Markets Group, Retail and Hospitality.
10/03/2022
blue duotone graphic of people in office
Insights • Economy

EMEA Markets View

Our EMEA local market research colleagues share the latest real estate market views from their countries.
13/01/2022
Carros eléctricos, Lisbon, Portugal
Insights • Economy

Portugal Real Estate Market View

A regular update on the commercial real estate market in Portugal.
Andreia Almeida • 20/12/2021
Rue Sainte-Catherine, Bordeaux, France
Insights • Economy

Covid-19 : Actualités économiques et du secteur Immobilier d'entreprise

Actualités de la crise sanitaire Covid-19, analyse des impacts sur le secteur de l'immobilier d'entreprise et plus globalement sur le plan économique en France.

Christelle Bastard • 24/08/2021
Brussels Office Marketbeat
Insights • Economy

Belgium Real Estate Market View

A regular update on the commercial real estate market in Belgium.
25/03/2021
Debt and Structured Finance
Insights • Economy

Lenders brace themselves

The Debt & Structured Finance team at Cushman & Wakefield is in frequent contact with over 50 lenders and has inquired what the impact of Covid-19 developments is or is expected to be on lending activity.
Maud Visschedijk • 20/03/2020
New Perspectives (image)
Research

New Perspective: From Pandemic to Performance

As a global leader in the commercial real estate (CRE) industry, Cushman & Wakefield offers clients a new perspective on COVID-19’s impact on CRE and beyond, preparing them for what’s next.
Michael Boonshoft
Insights

$name

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS