Summary and analysis of Luxembourg's current office real estate market conditions.
The Luxembourg office market is showing signs of recovery, with growth in occupancy rates driven by major corporate tenants securing large spaces in upcoming development projects.
Vacancy rates have risen moderately due to newly completed projects. This upward trend is expected to continue, though at a slower pace than previously forecasted, thanks to renewed pre-leasing activity in the market.
Prime rents ended unchanged at city level at €54/sq.m./month, though we experienced rental growth in the Station district.