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Research

Report

The Luxembourg office market in 2017: above 200,000 sq.m. again


  • ​Take-up in 2017 came in at 210,500 sq.m., exceeding 200,000 sq.m. for the third consecutive year. On a yearly basis, it is down 3.4%. No material impact from Brexit so far, but financial institutions and business services are active on the demand side. 
  • Vacancy was roughly unchanged vs. Q3 at 4.8%, ie 60 bps lower than a year ago. Vacant volume is estimated at 188,000 sq.m., 10% below 2016. 
  • Prime rents increased by 4% y-o-y to €47 / sq.m. / month (excl. vat).
  • Investment volume was at a 10-year high of €1.2 bn, 16% above 2016. 
  • Prime yields were unchanged at 4.5%. 

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