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Office Market Report Luxembourg Q3 2016: Banks boost the Luxembourg office market

  • ​Take-up in Q3 was 45,000 sq.m, over the nine months period it is up 15% annually to 166,000 sq.m. with banks contributing to a decade high of 46%.  

  • Vacancy rate was roughly unchanged at 5.4%. 208,000 sq.m. is currently vacant in Luxembourg.

  • Prime rents stabilised at €45 / sq. m. / month (+ vat), unchanged on a quarterly and yearly basis. 

  • Investment volume year-to-date reaches €675 Mln, with another deal above €100 Mln. JLL forecasts that volume by year-end will reach €1 bn, the same level as last year. 

  • Prime yields stabilised at 4.75%, further compression is possible due to high international demand for core products and historically low bond yields

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