Figures

Luxembourg Office MarketView Q1 2024

New prime yield confirmed, as occupier market records sluggish first quarter

April 24, 2024 7 Minute Read

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Report's key takeaways

  • New office lettings and sales were slow in the first quarter, as take-up totalled 24,900 m2.
  • Vacancy remains very limited to a tight 3.3%, which is hindering further movement in the office market.
  • New completions totalled 27,100 m2 in the first quarter, with just 17% of space still available.
  • Prime office rent in Cloche d'Or increased to 38 €/m2/mo (excl VAT), after a letting deal in a new office.
  • The acquisition of Royal Park sets the new prime yield in an otherwise quiet quarter for investments.