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Luxembourg Office MarketView Q4 2025
Both occupier and investment markets rebound by more than 40% in 2025
February 25, 2026 7 Minute Read
Summary
The Luxembourg office market finished the year on a relatively positive note with a better than average performance in terms of both deal count and volume, when considering the last three years.
The Airport and Cloche d'Or markets claimed the majority of major deals this quarter, supported by the new availabilities in Skypark in the former and various planned projects in the latter market.
Vacancy maintained its stability, hovering around the 4.0% mark which it did throughout 2025.
Upcoming available space over the next two years is very limited, as pre-lettings are often the best way to secure new offices in a market with few immediately available spaces.
Prime rents held in the CBD but remain under upward pressure in many markets. Five other major markets noted prime rent increases in 2025.
Finally, office investment picked up in Q4 to close the year just shy of half a billion euros led by AG Real Estate’s acquisition of the new Printzipal office in the Cloche d’Or market.
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Kim Verdonck
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