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Stronger Swiss franc hurting landlords

Office vacancies expected to rise further in the next two years as foreign companies find rental rates expensive, say analysts

Swiss office rentals have languished since 2011. A building boom in Zurich (above) and Geneva, Switzerland's largest cities, created a surplus of space that forced landlords to cut rents.


WHEN Swiss Life Holding AG bought an office building in Geneva earlier this month for 535 million Swiss francs (S$804 million), it set a record for the city. A day later, the central bank unexpectedly scrapped its currency cap, making the job of leasing the property more difficult