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Office Market Report Luxembourg Q2 2016: A 10 y high first semester

  • Take-up in Q2 was unchanged on a yearly basis at 51,000 sq.m. but lifted volume in H1 40% higher y-o-y to 122,000 sq.m. thanks to the record high Q1. Considering the transaction pipeline, take-up volume over the full year may once again exceed 200,000 sq.m.
  • Vacancy rate increased further to 5.3%, vs. 4.6% in Q1 2016 due to speculative completions in the CBD and Capellen, as well as buildings vacated in Howald and the Station.      
  • Prime rents stabilised at €45 / sq. m. / month (+ vat).
  • The investment market was boosted by a huge land sale in the CBD and mid to large size transactions: volume year-to-date is estimated at €532 Mln, up 14% y-o-y.
  • Prime yields compressed further by 25 bps to 4.75%, a new record low.

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