Research

Luxembourg Office Market Annual Research Report 2020

A record year but…

Occupier take-up over the full year 2020 climbed by 25% to 327,374 m², however half is due to pre-let or pre-sale transactions.
Immediate vacancy increased to 4.0%, vs. 3.2% a year ago as a result of completions.
Prime office rents stabilized at city level at €51 / m² / month (excl. vat) and increased in Cloche d’Or.
A quiet year for investment in volume terms, but yields compressed to 3.9% vs. 4% previously.

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