Switzerland office market – 2025

In the five largest office markets in Switzerland – Zurich, Geneva, Bern, Basel and Lausanne (CH5) – the supply of available office space increased by 9 % compared to the previous year, totaling 995,500 m² at the end of 2024. This means that the amount of obtainable office space has increased almost continuously in recent years. Since the end of 2019, when home offices still had a shadowy existence in many places, the average supply ratio in the five largest Swiss office markets rose from 4.1 % to 5.0 % at the end of 2024 (+0.9 %).

Considering the 1.16 million m² of new office space completed since 2020, the increase in supply of 231,000 m² measured in the same period is moderate. Construction activity reached a peak in 2020 with around 343,000 m² of newly created office space and then fell steadily to 57,000 m² in 2024. The trough has therefore been passed and volumes will rise again annually between 2025 and 2027.

There are considerable differences between the various market regions though: measured against the current stock, Geneva recorded the highest growth between 2019 and 2024 (Ø 2.0 % of the stock), with the expansion in space set to be even stronger by 2027 (Ø 2.3 % of the stock). In Bern, construction activity is increasing significantly compared to the past, but future growth will only be slightly above the Swiss average at a mean value of 1.1 % per year. Conversely, an average of 71 % and 58 % less new office space will be completed in Zurich and Basel by 2027 compared to the period from 2019 to 2024. For the five largest markets the office stock will grow by an average of 1.0 % per year until 2027, which is 26 % less than in the recent past.