• Sustained market activity driven by Business Services. Take-up reached 25.400 m², in line with the last two year quarterly average.
• Vacancy rate fell for the second consecutive quarter to 7.0% coming from 7.6% resulting from strong take-up combined with low speculative completions.
• The total pipeline for 2011 and 2012 is low compared to the 5-year average (124.000 m²) since it amounts to 72.000m² for 2011 and even only 42.000 m² for 2012. In 2013 the total pipeline is high due to high level of non speculative completions.
• Prime rents increased in Kirchberg from € 30 to 31 psm pm and in Decentralised Area South (cloche d‟or/Howald) from 27.5 to 28 psm pm over the quarter and remained stable in the other districts.
• Low investment volume during Q1 2011 with no transactions by institutional investors. Prime yields (6/9 year leases) remained stable in Luxembourg at 6.00%.

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