Adaptive Spaces

European Office Occupier Sentiment Survey 2026

September 3, 2026 10 Minute Read

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Executive Summary

CBRE's European Office Occupier Sentiment Survey 2026 points to a market at a critical inflection point. 

Demand for quality office space is rising, but constrained capital, limited availability of modern space, and the compounding pressures of AI and net zero are intensifying competition for the best buildings.

Fraser Daisley, Anna Esteban, and Julie Ennis break down what the data shows: where supply pressure is building, how AI companies are shaping the market, why relocation is accelerating and what that means for occupiers and investors.
65
%
Planning a relocation in 3 years
61
%
Expect AI to reshape their space within 2 years
6.8
%
Modern stock by 2028, a decade low

Portfolios are being transformed around people and productivity

The reasons employees choose to come into the office are becoming clearer. 85% of occupiers say engagement with colleagues is the primary driver, followed by productive workspace (81%) and access to leadership (77%). Portfolios built around these factors are better positioned to sustain attendance as hybrid working matures.

Financing portfolio transformations remains contested

Appetite for better offices is outpacing the capital committed to deliver them. Only a third of occupiers plan CapEx to reposition or transform their spaces, while close to 80% are focused on maintaining, making limited changes to or divesting of parts of their portfolio. Investment is concentrating into HQ buildings, with greater landlord fit-out contributions and stronger demand for capital-light flex space likely to be occupiers’ preferred solutions elsewhere. 

AI and sustainability are accelerating strategies

 45% of occupiers have pledged to hit net zero by 2030, and 61% expect AI to reshape their space requirements within two years. These are not separate workstreams. They are converging in a single portfolio transformation that most occupiers need to execute simultaneously.

Figure 1: Expected AI-driven workplace changes

 

 

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Source: Source: CBRE European Office Occupier Sentiment Survey 2026

Rising occupier expectations meet rapidly shrinking supply

88% of occupiers would reject a building missing an amenity they consider essential, up from 82% last year. Yet the share of European office stock less than five years old is forecast to fall to 6.8% by 2028, its lowest in more than a decade. As the pool of qualifying space shrinks, competition for the best buildings will increase, making it harder for occupiers to secure space that meets their requirements on desired terms.


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Conclusions

Conclusions for Occupiers


Portfolios are being transformed around people and productivity, but the best space to deliver that transformation is becoming harder to secure. The full report sets out what that means for portfolio strategy, relocation timing and sequencing net zero and AI spend as the supply of modern stock that meets rising requirements is heading for a decade low.

Conclusions for Investors


Demand bifurcation towards quality and centrality is accelerating as occupiers adapt to AI and net zero within a single tight replacement cycle. As supply continues to tighten, landlords can follow occupier demand into less central submarkets and continued demand for flex space.


Want to discuss what the findings mean for your organisation?


Our authors can help you explore the implications of the research for your workplace strategy, real estate decisions and future office requirements. 

Get in touch with our experts below.

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