Geneva Office Market Profile – Q1 2024
Quarterly Geneva office market report of JLL Switzerland
- Daniel Stocker
Q1 2024 saw a good activity in the Geneva region, with the supply rate stable at 6.0% compared with 6.1% in Q4 2023. The International Organisations submarket has recorded an increase, as the availability rate reached 5.5% this quarter, compared to 4.6% in Q4 2023. The Airport area has seen some significant transactions in the new Etang district, and supply continues to decrease to 15.4%, compared with 19.4% in Q1 2023.
Prime rents have increased to CHF 950/m²/year following two major transactions in Q1 2024. This increase was preceded by an initial rise to CHF 900/m²/year at the end of 2023. The rise in rents can be attributed to a shortage of competitive available space in the city center over the past few quarters, along with strong demand from occupiers.
