Luxembourg Retail MarketView Q4 2023

Luxembourg welcomes new retailers amidst higher costs and limited AAA locations

February 12, 2024 7 Minute Read

Retail MarketView_972x1296

Looking for a PDF of this content?

  • Economic growth turned negative in 2023, but 2024 is forecast to be a year of recovery.
  • Retail take-up was within range of long-term averages in a successful year given the limited availabilities and development.
  • Vacancy is low to non-existent for top high streets, shopping centres and out-of-town locations.
  • High street prime rents have slightly raised to 2,000 €/m²/year (excl VAT).
  • Institutional investors sat on the sidelines in 2023, but are anticipated to return in 2024 given the stability in interest rates and return of economic growth.