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The paradigm shift away from scarce and cramped to open and expansive calls for rethinking on the part of office real estate owners, developers, investors and users. Properties are once again in need of a USP (unique selling point) and stand in permanent competition amid transparent market conditions that more and more tenants are able to comprehend. Our 2016 office market study examines this fact.
Alongside the big office markets of Zurich, Lausanne, Bern and Basel, this year we concentrate on Geneva, which is the second- largest office market in Switzerland and the economic engine of the “arc lémanique”. On the basis of a scenario analysis, we forecast a mild increase in Geneva market-wide vacancies over the next five years. Along with the CEVA rail line and its accompanying real estate projects, Geneva looks destined to see new, well-connected office subcentres spring into existence. The new competition could make some non-central office sites difficult to lease. This opens up opportunities to convert them into housing.
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22 January 2016