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Luxembourg Office MarketView Q1 2023

Occupiers remain active while investors go silent

May 15, 2023 10 Minute Read

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  • Office take-up increased over the previous quarter to a moderate 48,049 m²
  • Vacancy compressed again to a very tight 3.5%, hindering occupier movements
  • New completions totalled 21,500 m² of which just 3,700 m² remains available
  • Luxembourg prime rent holds at 54 €/m²/mo (excl VAT) prime rent set in 2022
  • Investment yields continue to be under upward pressure as investors sit on the sidelines