Figures

Luxembourg Office MarketView Q2 2024

Diversity of geographic and sector activity a positive in an otherwise modest quarter

July 26, 2024 7 Minute Read

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Report's key takeaways

  • Second quarter take-up was 24,200 m2, bringing the first half of 2024 to 49,102 m2.
  • Several corporates are on the hunt for 5,000 m2 to 10,000 m2 that should provide a boost to take-up.
  • Vacancy increased but remains very limited to a tight 3.5% in the general market.
  • New completions totalled 11,000 m2 in the second quarter, with just 12% of space still available. The pipeline over the next 18 months is more robust, but space continues to be pre-let.
  • Prime office rent in Contern increased 20% this quarter after a large letting deal.
  • Just one new office acquisition was recorded in Q2, bringing the YTD total to €202 million