Luxembourg Retail MarketView Q4 2023
Luxembourg welcomes new retailers amidst higher costs and limited AAA locations
February 12, 2024 7 Minute Read
- 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.