Nearly two thirds (65%) of European office occupiers intend to relocate over the next three years, according to CBRE’s European Office Occupier Sentiment Survey 2026.
The survey found the office remains central to productivity and culture, with collaboration with colleagues (85%), access to a productive workspace (81%) and engagement with leadership (77%) noted as the primary reasons for driving office attendance.
While 52% of occupiers expect AI to reduce headcount and space requirements over time, CBRE said history suggests that concerns about headcount reductions are often overstated in the early stages of broadly applicable technological change, with workers typically moving into higher-value tasks rather than being displaced.
CBRE forecasts that the proportion of European office stock less than five years old will fall to 6.8% by 2028, the lowest level in more than a decade, with competition for the best space likely to intensify further as AI companies, which now account for 3% of European office take-up, increasingly targeting prime, centrally located buildings.
Anna Esteban, head of leasing and occupier accounts, Europe at CBRE, said: “Occupiers are becoming more deliberate about the space they retain and the role it plays within their organisation. As businesses adapt to changing workforce needs, the focus is increasingly on offices that attract talent and deliver a high quality employee experience.
“Occupiers may require less space overall, but are being more selective than ever before. As a result, alternative options such as flexible workspace is becoming more valued, helping organisations access quality space and adapt to changing requirements without the need for significant capital investment.”
Mark Cartlich, head of European occupational market research at CBRE, added: “The survey highlights a growing divergence between occupier requirements and available supply. Demand is increasingly focused on modern, best-in-class buildings, while the proportion of office stock that meets those requirements is set to decline further. Without sufficient development or redevelopment, competition for the best space is likely to intensify across many European markets over the next few years.”
