Luxembourg City
The capital of the Grand Duchy of Luxembourg, Luxembourg City has a small population of just over 100,000 but has the second highest per capita GDP in the world, behind Qatar. The city has developed into a major administrative and banking centre while also being the seat for many major institutions of the European Union, including the European Court of Justice, the European Investment Bank and the European Court of Auditors.
The location
Luxembourg City is situated in the heart of Western Europe, 213km from Brussels, 209km from Cologne and 372km from Paris.
The city itself is not very large (area covering 51km²) but straddles hills and drops into two gorges meaning that the layout is rather complex. It is divided into 24 separate ‘quarters’.
Neighbouring areas - price comparisons, per person per month
| The prices given below are the minimum to maximum average cost for serviced offices, per person per month, derived from our Sales Team's knowledge. |
| Area | Indicative price range |
|---|---|
| Luxembourg City |
€500 - 1000 |
| Paris |
€600 - 1500 |
| Brussels | €500 - 800 |
| Frankfurt | €350 - 800 |
| Zurich | €600 - 1200 |
Looking for an office in Luxembourg City
The CBD, Kirchberg and the Station District currently have very low vacancy rates that could force businesses to look at other areas within the city.
Costs
A typical four-person serviced office in Luxembourg City can cost between €1,800 and €3,500 depending on location and quality of space. A typical desk rate is around €650 per person, per month.
However, when looking at serviced offices it is always worth keeping in mind that these costs usually cover amenities, which may include internet, meeting rooms, reception services etc., and as such can offer great value for money.
Office sizes
Instant Offices currently has 25 different locations available in Luxembourg allowing for plenty of choice in terms of office style and size.
- Most Luxenbourgers speak a Franconian dialect of High German called Luxembourgish; however, most business is carried out in French while German is the first language taught in schools
- Luxembourg have won the Eurovision Song Contest on five separate occasions; only Sweden and Ireland have a better record in the competition
- The country is the only enduring sovereign Grand Duchy in the world
- There is only one university in the country, The University of Luxembourg
- Within the European Union member states only Malta has a smaller population
Why choose Luxembourg City?
With a GDP that is expected to grow over the next couple of years at double the rate of the rest of the Eurozone it is a great time to set up business in Luxembourg.
Not only are the banking secrecy laws and tax breaks that a Luxembourg address provides very attractive but a physical presence in the city means that you will be sharing a neighbourhood with some of the world’s largest firms.
Geographically, Luxembourg couldn’t be positioned much better for business, being bordered by France, Belgium and Germany.
A closer look at Luxembourg City
The following districts are the most popular areas in which to rent office space:
- Most of the country’s many banks and financial institutions are found in the CBD, including Banque de Luxembourg, the Central Bank of Luxembourg and the Luxembourg Stock Exchange
- The Old Quarter is listed by UNESCO as a world heritage site
- It is home to prestigious places and monuments that include Notre-Dame Cathedral and the Grand Ducal Palace
- Other major companies that have headquarters or a strong office presence in the CBD include Regus, Amazon, Paypal and Microsoft
- Located to the north-east of the city centre
- Western part of the quarter is home to various European Union institutions including the European Investment Bank, the European Court of Justice and parts of the European Commission
- Eastern part of the quarter houses many international banks, offices and the Luxexpo exhibition centre
- Situated just south of the CBD in central Luxembourg City
- The station itself is connected to the French TGV network and functions as the country’s international railway hub
- The area is becoming very popular for its quick links to the CBD and its obvious transport network advantages
- Home to the headquarters of ArcelorMittal, the world’s largest steel producer
- An area that is growing in popularity, located to the east of the CBD
- Great location for individuals or companies that regularly need to travel across Europe for business
- Some of the largest companies to have headquarters in the area are major Italian chocolatier Ferrero SpA, Deloitte, Lombard International Insurance and J.P. Morgan Bank
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.
Email our team or call us and we'll be delighted to help you.