SNAPSHOT Offices Geneva H1 2024

Letting

In H1 2024, the office real estate market in Geneva continues to modernize with the addition of 13,000 sqm of new space, notably with the Kyoto tower of the Green Village project.

Although supply is increasing, demand for large spaces (>500 sqm) is stabilizing after the peak in 2022. Nevertheless, the modernization of the CBD is attracting high-added-value companies, driving the prime rent to 980 CHF/sqm p.a..

The vacancy rate has decreased to 5.9%, supported by demand for smaller spaces (<500 sqm) in the outskirts and the conversion of buildings in the city centre.

Investment

In H1 2024, tertiary real estate investments in Geneva saw a significant increase despite institutional investors' caution due to high interest rates and new energy regulations.

The outlook remains positive thanks to planned capital increases, and local players emphasise the importance of a strong regional presence to meet the requirements of the Geneva market.

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