Brussels ($35/sqft, 8.2% vacancy) and Luxembourg ($54/sqft, 4.8% vacancy) compete on different axes: Brussels on rent and tax and Luxembourg on talent depth.
Brussels ($35/sqft, 8.2% vacancy) and Luxembourg ($54/sqft, 4.8% vacancy) compete on different axes: Brussels on rent and tax and Luxembourg on talent depth.
| Metric | Brussels | Luxembourg |
|---|---|---|
| Region | EMEA | EMEA |
| Country | Belgium | Luxembourg |
| Class A rent (USD/sqft/yr) | $35 | $54 |
| Class A rent (local) | 32 EUR | 50 EUR |
| Vacancy | 8.2% | 4.8% |
| Trend | flat | flat |
| Prime yield | 5.4% | 4.8% |
| Premium flex / seat / month (USD) | $580 | $720 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 25% | 24.94% |
| Metric | Brussels | Luxembourg |
|---|---|---|
| Typical term | 9 yrs | 9 yrs |
| Typical rent-free | 8 mos | 6 mos |
| Lease norms | Net leases. 9-year terms with break options at years 3 and 6 (Belgian 3/6/9 standard). Free rent of 6-12 months and TI of €60-€100/sqm typical. | Net leases. 9-year terms with break options at years 3 and 6 standard. Free rent of 6-9 months and TI of €60-€100/sqm typical. |
| Tax note | 25% Belgian corporate income tax. Notional Interest Deduction and innovation income deduction available. SME rate of 20% on first €100k for qualifying small companies. | 17% federal corporate income tax plus 7% solidarity surcharge plus 6.75% Luxembourg City municipal business tax for an effective combined rate of 24.94%. Material participation exemption regime. |
| Metric | Brussels | Luxembourg |
|---|---|---|
| Talent index (0–100) | 84 | 88 |
| Talent note | Deepest multilingual professional talent pool in the EU — French, Dutch, English, and German fluency is standard. Strong EU institutional, regulatory, lobbying, and trade association talent. | Deepest fund administration and private banking talent pool in the EU. Multilingual (French, German, English, Luxembourgish) professional base. Cross-border commuter labour from France, Belgium, and Germany makes up roughly 50% of the workforce. |
Brussels: STIB Metro (4 lines), tram, and bus. SNCB national rail anchors regional and EU-wide connectivity. Brussels Airport (BRU) is connected via SNCB rail (~17 minutes to Brussels-Central).
Luxembourg: Free public transport nationwide (since 2020) — buses, tram, and CFL national rail. Luxembourg City tram connects Kirchberg to the historic centre. Luxembourg Airport (LUX) is bus-served.
Brussels is the cheaper Class A market on a USD basis.
Luxembourg has the deeper talent index (88/100 vs 84/100).
Luxembourg has the lower headline corporate tax (24.94% vs 25%). Local incentives can change the effective rate materially.
Brussels typical term is 9 years with 8 months free; Luxembourg runs 9 years with 6 months free.
Brussels: STIB Metro (4 lines), tram, and bus. SNCB national rail anchors regional and EU-wide connectivity. Brussels Airport (BRU) is connected via SNCB rail (~17 minutes to Brussels-Central). Luxembourg: Free public transport nationwide (since 2020) — buses, tram, and CFL national rail. Luxembourg City tram connects Kirchberg to the historic centre. Luxembourg Airport (LUX) is bus-served.
Score Brussels, Luxembourg and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.