Zurich Office Market Profile – Q3 2020

New quarterly Zurich office market report of JLL Switzerland

November 13, 2020

The easing of various measures led to a recovery of the economy and demand for office space at the beginning of the third quarter. Plans for expansion were taken up and decisions were made. However, the increase in COVID-19 infections towards the end of the third quarter is now clouding the outlook for the coming months. Renewed restrictions to contain the pandemic are likely to have an inhibiting effect on the office demand. The supply of office space increased by 46,700 sqm to 340,900 sqm in the third quarter, and the supply ratio therefore rose from 3.8% to 4.3%. Relevant increases in supply were measured in District 1, District 5, District 7 and District 11 as well as in Opfikon/Glattbrugg.

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