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

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.

 

Office

ECONOMIC OVERVIEW

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.

OCCUPIER FOCUS

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.

INVESTMENT FOCUS

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

OUTLOOK

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.

 

Retail

ECONOMY

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.

LETTING MARKET

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.

INVESTMENT MARKET

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.

OUTLOOK

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 DATA?

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