Luxembourg makes top-10 of most expensive office cities in Europe

Luxembourg makes top-10 of most expensive office cities in Europe

Europe's Most Expensive Office Spaces: Where Business Thrives!

Europe is a powerhouse of global business, and its cities reflect this dynamism. But with success comes a price, and in the world of commercial real estate, that price is often reflected in the cost of office space. This article explores the top 10 most expensive office markets in Europe, showcasing the cities that attract the biggest players and command the highest rents.

Important Note: The figures below represent "prime" rents, which are indicative of the high-end of the market. These are the top-tier, premium office spaces. It's crucial to remember that each of these cities features multiple office submarkets, offering a range of rental prices depending on location, building quality, and amenities.

Here are the 10 most expensive office locations in Europe, according to CBRE.

1. London, UK - 2,136 €/m²/y

   London continues to lead Europe’s office market, with strong activity driven by finance, legal, tech, and life sciences. The city’s appeal lies in its global connectivity, deep talent pool, and status as a financial powerhouse. CBRE reports a surge in large-scale leasing activity, reflecting confidence in London’s long-term business fundamentals. Its diverse economy and innovation hubs make it a prime location for both established firms and startups.

2. Paris Ile-de-France, France - 1,250 €/m²/y

   Paris remains a strategic business center in Europe, with key sectors including finance, consulting, public administration, and luxury. According to CBRE, while the market has seen a slowdown in large transactions, interest from occupiers remains steady, especially in central districts. Paris benefits from its proximity to EU institutions, robust infrastructure, and cultural prestige, making it a top choice for multinational headquarters.

3. Zurich, Switzerland - 1,017 €/m²/y

   Zurich’s office market is shaped by demand from finance and tech firms, particularly in the CBD. CBRE highlights a shortage of modern, efficient office space in prime locations, which underscores the city’s desirability. Zurich’s strengths include economic stability, high living standards, and a skilled workforce, making it a preferred base for both regional and global operations.

4. Geneva, Switzerland - 963 €/m²/y

   Geneva’s office market is driven by finance, luxury, tech, education, and public sector demand. CBRE notes that renovation projects in the CBD are attracting tenants seeking high-quality space. Geneva’s international profile, bolstered by global institutions and NGOs, enhances its reputation as a hub for diplomacy, finance, and innovation.

5. Stockholm, Sweden - 805 €/m²/y

   Stockholm is seeing a shift toward higher-quality office spaces, with CBRE reporting strong demand for prime assets. The city’s tech, finance, and creative industries are key drivers of activity. Stockholm’s business appeal is rooted in its innovation ecosystem, sustainability leadership, and highly educated workforce, making it a Nordic powerhouse for international firms.

6. Milan, Italy - 760 €/m²/y

   Milan stands out as Italy’s leading office market, with CBRE noting a gradual recovery in leasing activity. The city attracts finance, fashion, and professional services, supported by its role as a cultural and economic capital. Milan’s centrality, infrastructure, and vibrant urban transformation make it a compelling location for both domestic and international businesses.

7. Munich, Germany - 708 €/m²/y

   Munich’s office market is characterized by a broad demand base, including manufacturing, consulting, IT, and public sector. CBRE highlights a continued “flight to quality,” with occupiers prioritizing well-connected, high-standard spaces. Munich’s reputation for engineering excellence, innovation, and quality of life makes it a top-tier business destination in Germany.

8. Helsinki, Finland - 684 €/m²/y

   Helsinki’s office market is evolving, with CBRE noting increased interest in prime assets and modern developments. Key sectors include tech, public services, and education. The city’s strengths lie in its digital infrastructure, sustainability focus, and strategic location in the Nordics, making it attractive for companies seeking innovation and regional access.

9. Dublin, Ireland - 673 €/m²/y

   Dublin is experiencing renewed confidence in its office market, with CBRE reporting strong take-up and robust demand. The city is a major hub for tech, finance, and professional services, supported by its English-speaking workforce and favorable business environment. Dublin’s role as a gateway to Europe for US firms enhances its strategic importance.

10. Luxembourg City, Luxembourg - 648 €/m²/y

    Luxembourg’s office market is anchored by finance and public administration, with CBRE noting strong activity in key districts like Cloche d’Or and Kirchberg. The city’s political stability, multilingual talent pool, and central location in Europe make it a preferred base for EU institutions and global firms seeking regulatory proximity and operational efficiency.

These ten cities represent the cream of the crop in European commercial real estate, offering a glimpse into the dynamic and competitive landscape of global business. While the prices may be high, the opportunities and benefits that these locations offer continue to draw in businesses from around the world.

For more information:

• Global Prime Office Rents at CBRE: https://www.cbre.com/insights/global-office-rent-tracker
• Research and Data at CBRE (contact the global research team): https://www.cbre.com/insights#research-team