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Luxembourg MarketBeat

Sébastien Bequet • 04/11/2021

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 growth is set to increase by 6.92% in 2021, one of the most important economic recoveries across Europe. In longer term, growth levels will decelerate, though remaining robust, to reach 2.50% in 2025.


The year 2021 marks the best Q1-Q3 period ever in Luxembourg, with take-up more than 322,000 sq m, mainly driven by the public sector.


Unlike the exceptional first semester, investments in Luxembourg slowed down significantly during Q3 with only 83.7 MEUR invested.


Activity should remain intense in Luxembourg in the coming months as it is expected that the majority of the workforce will return to the office in early 2022, with potential positive ramifications for the office occupational market.




After a limited decline in 2020, the real GDP growth is expected to bounce back to 6.92% on an annual basis in 2021, one of the most important recoveries across Europe. Though decelerating in the medium term, GDP growth should remain above 5% in 2022 and reach 2.50% in 2025.


14 deals were observed in Q3 2021 for a total take-up of 5,100 sq m. However, the COVID-19 outbreak seems to have only limited impact on the retail letting market with a year 2021 YTD almost in line with previous years.


The sale of the Livingstone Delhaize in Cessange for 8,7 MEUR is the only transaction recorded on the retail investment market in Q3 2021.


Sentiment indicators also suggest a positive outlook for Luxembourg’s economy. Business sentiment has improved, also outside the financial services sector. Consumer sentiment, meanwhile, showed a strong recovery since spring 2021, after the dramatic fall recorded between March and the end 2020.

Consumers are more confident about the economic recovery of the country. However, they are more concerned about their financial situation and their willingness to spend also decreased these last months.

Current Marketbeats

Karlin, Prague, Czech Republic
Luxembourg Office Data

Office Marketbeat is a summary of the Luxembourg office property sector providing comment on recent trends as well as market data and analysis.

Office Marketbeat Q3 2021

Shopping street, place Luxembourg
Luxembourg Retail Data

Retail Marketbeat is a summary of the Luxembourg retail property sector providing comment on recent trends as well as market data and analysis.

Retail Marketbeat Q3 2021


Looking for more historic or specific property market data? Get in touch.
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