OFFICES - Office Market Research Report Luxembourg - Annual overview 2021
A year boosted by large size transactions
- Pierre-Paul Verelst
2021 set a new record level of take-up, largely closed in the first half, while the second half was much quieter. H2 returned a transaction volume of 90,071 sq.m. ie 66% below H1 2021 and 57% short of the same period last year.
Take-up over the full year came in at 356,993 sq.m. ie 11% above 2020. The share of pre-letting / pre-sale transactions was estimated at 25% compared to 51% in 2020. In terms of average transaction size, this declined by 9% y-o-y to 1,691 sq.m.
What is the impact on the office investment market in Luxembourg? Read our annual overview of 2021.