The annual leasing volume on the Swiss office-space market has been drifting sideways for almost five years already, and it has been difficult to find new tenants. But the main economic activity parameters are set to growth in 2018. New impulses on the demand side should therefore open new opportunities in the office-space market. The analysis and projection of office space demand in the large Swiss cities is one of the focus topics of this year's report. In addition, we are taking a closer look at the developments in the regional centres of Switzerland. Finally, this year study focuses on the impact of different interest rate scenarios on real estate. Rising interest rates are detrimental to real estate values, but there may be counteractive mitigating factors depending on the economic environment. Moreover, different real estate segments react to rising interest rates with differing degrees of sensitivity.