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JLL Workshop at FIABCI World Congress
Luxembourg, 22 mai 2014 –JLL (Jones Lang LaSalle) presents the reasons to invest in real estate in Luxembourg. Why is Luxembourg interesting for real estate investments? Who invests, where and why?
The Grand Duchy of Luxembourg consistently outperforms other European Union countries in terms of macro-economic indicators such as GDP growth and public finance. The labour market is sound with one of the highest productivity per employee of the OECD and the lowest number of working days lost due to industrial action. The population is highly skilled and multi-lingual. As such the Grand Duchy of Luxembourg offers a stable and business-friendly environment. The government’s economic policy is supportive to business creation and innovation, this being clearly illustrated by the presence and the expansion of international e-commerce companies.
The occupiers market: not only banks !
While relatively small compared to the main European cities, the Luxembourg office market seems to have hardly been hit by the crisis years and outperforms in terms of letting and rental growth. Contrary to what is commonly thought banks and European institutions are not the only drivers of the market: business services, law firms, IT services support the activity. This results in one of the lowest vacancy rates in Europe.
More liquidity on the property investment market
The stable business environment and the sound occupier market are good news for property investors. Over the last years we have seen a consistent improvement in the liquidity of the market and the return of international investors. Belgian and local investors are challenged by German and French competitors, either institutional funds or private, and deal size increases. Luxembourg follows the global trend of downward pressure on yields.
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