Luxembourg office recovery confirmed: take-up up 36%, vacancy back below 4%
Luxembourg City — effectively the entire national office market — staged a clear recovery in 2025. Full-year take-up rebounded 36% to roughly 181,000 m² (JLL), led by JP Morgan's ~14,000 m² pre-lease at The Waves (Kirchberg) and PwC's ~9,970 m² at Eosys (Cloche d'Or). Vacancy tightened to about 3.9% at year-end from 4.2% a year earlier. Prime CBD rent held at €54/m²/month (Boulevard Royal) — about €648/m²/year, among the highest in Europe — while the Station/Gare district climbed to €43/m²/month on improved tram accessibility. Prime yields compressed ~25 bps to 4.5%. Q1 2026 opened softer (24,779 m² take-up) but with vacancy easing further to ~3.6%.
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Every figure is sourced from named research (JLL, CBRE, Cushman & Wakefield, Colliers, BNP Paribas Real Estate, Savills, Knight Frank) or shown as a labelled estimate / “not published”. Reporting periods and definitions differ by source; see the PDF’s Methodology & Sources. © 2026 OfficeRentInfo.
Rents, vacancy and pipeline — drawn from named broker research. Download the latest Luxembourg office report, free.