Office market Geneva

The office availability rate in the Geneva region increased in 2025 to 6.6% (end-2024: 6.2%). The CBD also recorded an increase in vacancies to a total of 53,300 m² (+12,900 m²). The availability rates in the CBD right bank/main station (4.9%) and CBD left bank/old town (5.5%) submarkets accordingly rose compared to the previous year (2.7% and 4.7%, respectively). The increases were due to space being vacated by large individual tenants such as SGS and offices that came back onto the market after renovations.

In a few lettings, prime rents of up to CHF 1,030 per m² per annum were observed (+6% compared to 2024). However, this trend does not apply generally; rents remained stable across all submarkets. In view of the current supply dynamics, a future decline in rent levels seems possible.

The relocation of Pictet Group’s headquarters to the new high-rise in Acacias has brought about significant changes in the La Praille/Acacias/Lancy submarket. The consolidation of business operations on the new campus freed up office spaces at the former locations; the availability rate correspondingly rose to 6.8% as of end-2025 (2024: 5.0%). Despite the higher vacancy rate, the buildings constructed for large financial institutions in emerging districts such as PAV and Pont-Rouge remain particularly attractive.

The trend in Geneva toward consolidating scattered office sites in modern buildings also opens up new opportunities. Space that becomes available as a result can be let quickly and temporarily, as occurred for example at Rue de la Gabelle 1 (12,000 m²).

Along Route des Acacias, construction began on the Étoile 1 project, which is part of the ambitious PAV urban development perimeter and is scheduled to be completed by 2029. Étoile 1 comprises a 28-storey high-rise as well as two 9-storey buildings and offers around 4,500 m² of office space alongside other uses.

The volume of planned office space is smaller than was expected a year ago because several major projects have been revised. At the Passage Morillons project, for example, an aparthotel is being built instead of offices. However, demand for new, certified space remains solid, even in peripheral locations. Despite revised timetables, many projects will be realised. Both developers and occupiers are acting with confidence in view of the robust underlying conditions in the Geneva economic centre.

Download the study “Office Market Switzerland 2026” including further information about the office market Geneva.