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.
After a challenging year in 2022, economic recovery will be modest in 2023, with GDP growth predicted to be about 1.4% for the whole year, above the EU level.
The Luxembourg office market experienced one of the worst Q2 ever with 25,164 sq m of take-up.
The market was already investing more than a billion euros in the Luxembourg office market at this time last year, but the volume invested currently totals only 25 MEUR.
Due to uncertain economic conditions, some investors have adopted a more cautious approach and have paused their investments.
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Above 9,000 sq m of take-up was recorded during the second quarter of the year, bringing the total of 2023 to 14,600 sq m.
Only one investment transaction was observed in the retail segment since the beginning of the year.
To counter inflation in the Eurozone, the European Central Bank continue to raise its interest rates, the latest one dating back from June 2023.
Download our Retail market report below