MarketView Snapshot Buero Genf Q1 2024

Office availability in Geneva and its region slightly reduced in Q1 2024, albeit keeping a high level of 290,000 sq m of office space. There is still a mixed picture between the low levels recorded in the city of Geneva (4.2%), which remain fairly stable, and the decreasing vacant space in the suburbs (9.9%). There is an emerging trend of obsolete office space in peripheral areas being repositionned (for residential purposes), hence being removed from the market. On the back of the recently refurbished Grade A supply delivered in the CBD, the prime office rent has climbed up to CHF 900 / sq m p.a. Conversely, asking rents are increasingly under downward pressure in the suburbs.