MarketView Snapshot Office Zurich Q4 2024

In the city of Zurich, office space available within three months remained stable at roughly 210,000 sq m or 3.1% in Q4 2024. The most recent decrease in supply in H2 2024 was mainly driven by the CBD, where some excess space freed up by the financial sector has been successfully relet. Here, supply currently stands at 47,000 sq m or 2.4%, which is a decrease of 140 bps since Q1 2024. The market remains tight with a general lack of modern and efficient office space in sought-after central locations.

In the suburbs of Zurich (airport region and Limmattal), in return, availability has most recently slightly increased again to 13.2% or 278,000 sq m. The office market remains very competitive here.

With only roughly 40,000 sq m, the development pipeline of new office space in the city of Zurich in 2025 and 2026 looks weak. The same holds true for the suburbs, where approx. 30,000 sq m will be delivered in the two years to come.

Despite ongoing structural changes in the financial sector and thanks to a (again) good demand by the ICT sector, the Zurich office market is expected to remain very robust in the coming years with a limited construction activity.