Luxembourg Retail MarketView 2022

Occupier dynamics resilient to stresses of 2022

May 5, 2023 7 Minute Read

Lux Retail Marketview 2022

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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.