Switzerland office market – 2024

The aggregate office space availability rate in the five largest office markets in Switzerland – Zurich, Geneva, Bern, Basel and Lausanne – slightly increased over the last twelve months from 4.5% to 4.6%. The office market experienced considerable momentum last year with numerous lettings and relocations. Several flex space providers and private banks were in growth mode. However, demand cooled noticeably as the year progressed, although this has not yet had a noteworthy impact on the amount of available space.

The total measured rise in supply of 32,400 m2 in the five largest office markets was due to increases in the Zurich (+31,500 m2) and Geneva (+9,500 m2) regions. Bern recorded only a slight change (+1,100 m2), while office supply in Lausanne (−5,100 m2) and Basel (−4,600 m2) actually decreased compared to the previous year.

Construction activity has flattened significantly. In 2024 and 2025, 118,000 m2 and 139,000 m2 of new office space will be created, which is only half as much as from 2019 to 2023 (Ø 265,000 m2 per year).

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