[Last updated April 2023] A guide to serviced offices and offices to rent in Geneva as well as general information that may be useful if you are considering renting office space in the city.
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History & Geography
Geneva is the second-largest city in Switzerland as well as an iconic financial centre and world city. Situated on the picturesque Rhone River and Lake Geneva, the city is one of the most picturesque in Europe. Geneva is surrounded by both the Alps and the Jura mountain ranges and lies near the border with France. Geneva began life as a Roman fortress town, defending the region from the depredations of the Helvetti tribe. During the Late Roman Empire, the town became Christian and installed a bishop. Until the 14th century, the city was ruled by a count, until which it acquired a charter and, in essence, became self-governing. It was also around this time that the House of Savoy rose to prominence in Geneva and came to dominate many of the city’s affairs. However, by the middle of the 16th century, the Protestant Reformation had come to Geneva and the influence of the House of Savoy was waning. For a time, the founder of Calvinism, John Calvin, became the de facto leader of Geneva. But at the end of the 18th century, France annexed Geneva and the city effectively fell under French rule. In 1815, after France had been defeated in the Napoleonic Wars, Geneva was admitted to the Swiss Confederation. During the 19th century, Geneva prospered and both its population and borders grew correspondingly. During WWII, Switzerland stayed neutral and the city managed to avoid the destruction wrought on many other European metropolises. In the latter half of the century, Geneva became the headquarters of many international agencies and organizations. Many of the agencies of the UN are based in the city are the Red Cross. Today, the city is also an important financial centre and according to Mercer, offers one of the highest quality of life levels of any city in the world.
Economy
Unlike many other large European cities, Geneva has never had a strong manufacturing sector. Instead, Geneva’s economy has largely been service-based. This remains so today, with the main bulwarks of the city’s economy being international trade and private banking. A host of companies have their international headquarters based in the city. These include Electronic Arts, Take Two Interactive, Societe Generale de Surveillance, Caterpillar, DuPont, Cargill, Hewlett Packard, and many more. Geneva is also the headquarters of many international organisations, and this is also an important part of the city’s economy. Geneva is also famous for the Geneva Motor Show, the premier motor show in the world, where many major manufacturers reveal new models and prototypes. The city is also renowned for its watch-making industry, which has a long and rich heritage. Many of the best-known watchmakers in the world call Geneva home, including Patek Phillipe, Omega, Vacheron Constantin, Raymond Weil, Rolex, and Jaeger-LeCoultre. Geneva is one of the most expensive cities in the world to live in. Many people who work in Geneva commute into the city because of the high cost of living.
Tourism & Culture
While Geneva may not rank among the top travel destinations in Europe, it does have a healthy tourism industry and sees thousands of visitors a year for both business and recreation. Geneva has never been badly bombed as many other European cities have, so it has a vast wealth of historical buildings and cultural sites. Among these are Russe Church, Saint Germane Church, and the Cathedral St Pierre. Geneva also has a large number of museums which are popular with visitors. The most well-known of these are the Museum of the International Red Cross, Musee Rath, Museum d’Histoire Naturelle, and the Museum d’Histoire et Sciences. Geneva has a rich culture and unique traditions of which its residents are proud. Some of the most important festivals in the city are the L’Escalade Festival and Jeune genevois. L’Escalade falls on the weekend nearest to the 12th of December and celebrates the defeat of the Duke of Savoy in 1602. Juene genevois is on the first Thursday following the first Sunday in September and commemorates the St Bartholomews Day massacre in 1572 in which many French Huguenots were killed.
Transportation
The city is served by the Geneva Cointrin International Airport which is connected to the city through a train link. The airport serves over 10 million passengers every year and is the main hub for EasyJet Switzerland. Public transportation in Geneva itself is excellent. Residents and visitors can get around the city by bus, tram, or trolleybus. Geneva also has excellent rail connections and is served by its main station, Cornavin. There are connections to many French and Swiss towns in the vicinity as well as long-haul connections. New links are being added all the time.
In 2013, following the Great Recession, the overall vacancy rate for Class A office space in Geneva stood at approximately five per cent. However, this figure was predicted to change as a host of new space became available in areas like the Cointrin, near the airport, and in the Blandonnet buildings.
Prime office rents in the CBD were, at that time, stable at approximately CHF 1025 per square metre per year.
The frontage of Lake Geneva was the most expensive area to rent office space, with the Right Bank and Petit-Saconnex area, where many international organisations have space, following behind. Financial institutions were forecasted to continue to consolidate and optimise their requirements for space.
In 2022, it was reported that demand was high for central locations across the whole of Switzerland and that this was pushing availability to low levels with it being just 3.2% in Geneva’s central business district.
However, with the expansion of outer districts, overall availability across the whole of Geneva had increased by 6 per cent to 15,200 square metres.
There was also increases in the Geneva airport office space submarket which added just over 16,000 square metres and in the Plan-Les-Ouates district with an addition of 4,500 square metres.
The districts which contracted in terms of availability included the Plainpalais / Charmilles district which was reduced by 5,000 square metres and the La Praille / Acacias / Lancy district which was reduced by 2,300 square metres.
There are 98,000 square metres in the development pipeline which is due to be delivered by 2025. It is not known whether second-hand space from institutions such as Credit Suisse will increase total office space availability in Geneva also.
Popular Office Space Locations in Geneva
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