The vacancy rate for commercial spaces in Luxembourg saw a slight decline in 2024, with both the retail and hospitality sectors experiencing modest improvements. According to the latest figures, 12% of commercial spaces across the country remain vacant.
Luxembourg currently boasts a total of 1.1 million square metres of retail space, equating to approximately 2 square metres per capita. Despite significant population growth in recent years, these figures have remained stable.
The findings were revealed in the National Retail Trends Report, presented by Minister of the Economy Lex Delles on Monday. The report highlights food trade as a standout performer, with the sector gaining over 100 new sales locations – an increase of around 18%. However, artisanal food production, including butchers and bakeries, saw a decline in numbers.
In the hospitality sector, the number of restaurants grew by just 2.4%, while fast food restaurants expanded by approximately 20%. In contrast, the number of bistros and bars decreased by 9%.
Another notable trend highlighted in the report is the rise of pop-up stores which have grown significantly in popularity. Luxembourg now hosts 69 such locations, marking a 72.5% increase compared to previous years.
