Luxembourg, July 23, 2025 – After more than two lean years, signs of recovery are multiplying in the Luxembourg office market. Most encouragingly, the recovery is being driven by the private sector, rather than numerous transactions by government occupiers. JLL analyzes the key fundamentals for the first half of 2025.
Per JLL,
- The Luxembourg office market is recovering with strong growth of take-up generated by key corporate tenants taking large surfaces in projects under development.
- Vacancy increased moderately due to completions, the trend will remain upward oriented but less than previously anticipated given the reboot of preletting activity.
- Prime rents ended unchanged at city level at €54 / sq.m. / month, though we experienced rental growth in the Station district.