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Luxembourg Retail MarketView 2022
Occupier dynamics resilient to stresses of 2022
May 5, 2023 7 Minute Read
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- Despite recession fears throughout Europe, Luxembourg is forecast to grow in line with recent years.
- Quaterly retail take-up was a large 45,372 m² in Q4 to bring the annual total to a better-than-expected 62,000 m², supported by high streets and out-of-town.
- Vacancy is low to non-existent for top high streets, shopping centres and out-of-town locations.
- Rents are returning to previous cyclical highs, with high streets recording 2,000 €/m²/year (excl VAT) prime rent as of the end of 2022.
- The pipeline of demands for 2023 is in-line with pre-Covid years.
- Investment is very modest, as rising interest rates put pressure on yields.