Luxembourg ($54/sqft, 4.8% vacancy) and Zurich ($105/sqft, 3.8% vacancy) compete on different axes: Luxembourg on rent and tax and Zurich on talent depth.
Luxembourg ($54/sqft, 4.8% vacancy) and Zurich ($105/sqft, 3.8% vacancy) compete on different axes: Luxembourg on rent and tax and Zurich on talent depth.
| Metric | Luxembourg | Zurich |
|---|---|---|
| Region | EMEA | EMEA |
| Country | Luxembourg | Switzerland |
| Class A rent (USD/sqft/yr) | $54 | $105 |
| Class A rent (local) | 50 EUR | 95 CHF |
| Vacancy | 4.8% | 3.8% |
| Trend | flat | flat |
| Prime yield | 4.8% | 3.2% |
| Premium flex / seat / month (USD) | $720 | $1,280 |
| Submarkets covered | 5 | 5 |
| Corporate tax | 24.94% | 19.7% |
| Metric | Luxembourg | Zurich |
|---|---|---|
| Typical term | 9 yrs | 7 yrs |
| Typical rent-free | 6 mos | 6 mos |
| Lease norms | 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. | Standard 5-10 year leases. Rent indexed to Swiss CPI annually. Nebenkosten billed separately. Cautio (deposit) of 3-6 months standard. Cantonal stamp duty applies. |
| Tax note | 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. | Effective combined federal + cantonal + municipal corporate tax in Zurich approximately 19.7%. Switzerland's tax cooperation regimes for multinationals (e.g. Patent Box) are meaningful. |
| Metric | Luxembourg | Zurich |
|---|---|---|
| Talent index (0–100) | 88 | 96 |
| Talent note | 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. | Deepest financial and pharma talent pool in continental Europe per capita. Average all-in compensation indexes 96. |
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.
Zurich: Zurich Hauptbahnhof anchors SBB and S-Bahn. Tram network covers the central city. Zurich Airport is 12 minutes by S-Bahn.
Luxembourg is the cheaper Class A market on a USD basis.
Zurich has the deeper talent index (96/100 vs 88/100).
Zurich has the lower headline corporate tax (19.7% vs 24.94%). Local incentives can change the effective rate materially.
Luxembourg typical term is 9 years with 6 months free; Zurich runs 7 years with 6 months free.
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. Zurich: Zurich Hauptbahnhof anchors SBB and S-Bahn. Tram network covers the central city. Zurich Airport is 12 minutes by S-Bahn.
Score Luxembourg, Zurich 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.