Luxembourg Office Market Dynamics, Q2 2026

Occupier activity in the Luxembourg office market remains subdued, with transaction volumes running well below recent historical averages, though banking and finance sectors continue to drive demand.

Vacancy rates remain among the lowest in Europe despite some district-level shifts, with prime rents edging upward and investment yields holding steady.

The market outlook points to historically low take-up levels for the full year, with vacancy expected to rise modestly as new speculative supply enters the market.