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Luxembourg : Retail Snapshot - Q4 2013

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Luxembourg seems to be heading towards economic recovery, with GDP growth of 2.0% GDP in 2013 and a forecast of 2.7% for 2014. Retail letting have been steady, although lower than in 2012 and than the 5-year average. Landlords and tenants remain cautious, although the primary market is still healthy due to the flight to quality – which has lead to a worsening situation for the secondary market. The apparent stability of most of the prime rents hides the fact that growth is below inflation, so negative in real terms.

Source : Cushman & Wakefield