MarketView Snapshot Office Zurich Q4 25 (E)

As of Q4 2025, Zurich city had 221,000 sq m of available office space (3.2% of total stock), remaining almost stable with only a slight increase of 8,000 sq m from Q4 2024. Central areas, including the CBD, show tight availability, while less central markets like Zurich North and the suburbs face higher vacancy levels due to a higher construction activity in the past. However, available space in the suburbs decreased by 30,000 sq m, from 13.4% in Q4 2024 to 11.9% in Q4 2025, partly due to a weak development pipeline.

Zurich city's office take-up has averaged 263,000 sq m annually since 2015, the highest value among Swiss cities. After a strong 2024, 2025 saw a substantial decrease due to economic weakening, with take-up at 217,000 sq m in the city and 72,000 sq m in the suburbs.

The pipeline for new office developments in Zurich city (2026-2030) is modest, averaging just over 16,000 sq m per year, half of the previous five-year average. Much of this is pre-leased, adding only 7,500 sq m annually to the city's leasing market. A similar decline is seen in the suburbs, with the airport region's pipeline diminishing to an average of 6,600 sq m per year for 2026-2030.