Geneva has a glut of office space and business rents are falling.
In the last year the amount of floor space has doubled at 315,000 m2, according to the Cantonal Statistics Office.
The main reason are new developments being opened in Lancy and Vernier.
That’s leading to some businesses choosing to move from older premises to newer buildings, or others are taking the opportunity to lower rents.
At the same time there’s a shortage of living space.
Although planning laws have been changed to make it easier for former office buildings to be converted to apartments, it’s just simply impractical in many cases.
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