The CSL Real Estate Market Report provides facts, figures and estimates on the investment, residential and office market in Switzerland and in particular in the Zurich economic region. The CSL Real Estate Market Report is based on a broad range of rents and prices, data from statistical offices and assessments by experienced market participants, economic promoters and experts. In addition, findings from expert interviews with key players in the sector are incorporated.
 
And last but not least, it also reflects the experience our employees gain in their daily work.

SWISS OFFICE MARKET 2020

Agglomeration offer rents
Market changes price band
CHF/m² p.a.
Median
CHF/m² p.a.
Aarau 30 400 10 % 135 – 245 190
Baden-Brugg 36 600 26 % 135 – 270 190
Basel 112 000 140 – 320 220
Bern 94 300 -17 % 135 – 325 210
Biel 15 200 36 % 115 – 200 150
Chur 6 200 -12 % 135 – 260 180
Fribourg 13 300 -20 % 150 – 260 190
Geneva 446 400 8 % 215 – 575 355
Lausanne 164 900 15 % 150 – 385 250
Lugano 64 500 -11 % 140 – 355 230
Lucerne 50 800 56 % 135 – 380 210
Neuchâtel 6 700 -50 % 135 – 415 225
Olten-Zofingen 20 400 -10 % 125 – 215 160
Schaffhausen 15 000 -16 % 115 – 225 165
Solothurn 9 800 34 % 130 – 245 165
St.Gallen 46 600 28 % 140 – 280 190
Thun 6 000 -7 % 160 – 275 200
Winterthur 30 900 -30 % 155 – 305 215
Zug 98 900 34 % 150 – 430 260
Zurich 578 700 3 % 135 – 470 225
Agglomerationen 1 847 600 5 %

SWISS OFFICE MARKET 2020

The slight weakening of the economy also manifested itself in the office market in 2019. The stabilisation observable in the previous year with falling supply figures was offset with a fresh increase in available space. A total of approximately 1.85 million m² of office space was available within six months in the Swiss agglomerations, representing an increase of 5% compared with the previous year. At first glance, there is a noticeable lack of any uniform trend in the Swiss office markets. While the supply in the two largest markets of Zurich and Geneva, as well as Basel, proved highly stable, other office locations showed stronger variation. The supply in Lucerne and Zug grew significantly. In Zug, this almost exceeded 100,000 m2 in 2019, while the supply in Bern remained below this figure once again. There was also no consistent trend in terms of rental levels. In fact, there were significant fluctuations in different directions. This is particularly attributable to the increasing demand in urban centres such as Zurich and Basel. The sought-after districts of these cities shifted from being tenants’ markets to landlords’ markets during the course of 2019. In peripheral locations or those with lesser infrastructure, however, owners have been left standing. The economic situation and changing requirements of the modern working environment are having a particularly noticeable impact on these locations. Potential tenants are highly price sensitive in such locations and are still seeking the best possible infrastructure, including shopping amenities or additional services. With no upturn in the economy expected this year, the market situation can be expected to remain stable at best. Demand for central locations with good infrastructure will increase further, not least owing to the discourse around sustainability.
„The noticeable increase in demand in central locations and media reports belie the fact that owners still have to make significant concessions on the majority of lettings.“
Claudia Zinno
Client Manager, Commercial Property
"The CBD is enjoying a renaissance. The City submarket has shifted to a landlords’ market where owners of large space can pick and choose their tenants."
Andrea Bülow
Client Manager, Investment and Commercial Property

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