Recovery in office rents continues
Swiss office space markets continued to recover in the second quarter of 2019, according to consultancy Fahrländer Partner Raumentwicklung (FPRE).
Office rents rose by a further 2.2 percent across Switzerland. Compared with the same quarter of the previous year, this represents an increase of 12.9 percent, FPRE reports in its market analysis. However, this increase is strongly related to the previous slump in rents, which reached its low point for the time being in the second quarter of 2018, and the resulting base effect.
While rental growth had been very similar across all regions in previous quarters, the picture looked much more heterogeneous in the second quarter of 2019. The Basel (+4.4%), Mittelland (+3.4%) and Zurich (+3.2%) regions again saw significant increases compared with the previous quarter.
In the Lake Geneva region, on the other hand, rents were already declining slightly again (-0.5%), while more significant rent declines were observed in eastern Switzerland (-1.7%) and southern Switzerland (-1.9%), FPRE said. (mr)
