CSL Immobilien: Real estate markets are moving

In comparison with the development in 2021, the real estate markets have moved strongly in some cases in recent months. In the office market, available space declined by 11% nationwide, and by as much as 20% in Zurich. This is shown by current figures from CSL Immobilien.

Yonas Mulugeta (Image: zVg)

While the office market was a concern in 2021 due to the Corona pandemic, the first signs of recovery are now emerging. Compared to spring 2021, available space nationwide has decreased by 11%. The reason is likely to be that companies are now making and implementing location decisions they postponed last year, says Yonas Mulugeta, CEO of CSL Real Estate. He also suspects a connection with individual large spaces that have been absorbed by the market.

Different developments were seen in the individual regions: In Zurich, available space fell by 20% to around 483,000 sqm since last summer, according to the CSL study. Compared with November 2021, the decline even amounts to 30%. A reduction of 36% was recorded in Schaffhausen, while in Zug the available space decreased by 27%. In a few regions, on the other hand, the available area increased, for example by 21% in Basel. All in all, the development nevertheless points to increasing demand from companies, according to the CSL experts.

Residential rents generally on the rise

In the residential market, rents moved upwards year-on-year in most regions - contrary to the expectations of market players, who had tended to expect a sideways trend or even falling rents in 2022. CSL Immobilien recorded the strongest increase since spring 2021 with 7% in Chur. In the Zurich region, there was an increase of 4%. Falling rents were only seen in the Geneva region (-1%). The actual rental costs are higher due to the increase in energy costs as a result of the Ukraine crisis. However, a positive factor for tenants is that the reference interest rate is unlikely to move much in the current year, so no further rent increases are expected from this side.

In the residential property market, purchase prices continued to move upwards year-on-year - as market players had expected for the CSL Real Estate Market Report 2022. Demand remained stably high in all regions, despite the fact that the media focused heavily on mortgage interest rates and inflation. The potential buyers were apparently not very impressed by this, according to the CSL experts.

(Visited 1,099 times, 1 visits today)

More articles on the topic