London ($121/sqft, 8.6% vacancy) and Zurich ($105/sqft, 3.8% vacancy) compete on different axes: London on talent depth and Zurich on talent depth.
London ($121/sqft, 8.6% vacancy) and Zurich ($105/sqft, 3.8% vacancy) compete on different axes: London on talent depth and Zurich on talent depth.
| Metric | London | Zurich |
|---|---|---|
| Region | EMEA | EMEA |
| Country | United Kingdom | Switzerland |
| Class A rent (USD/sqft/yr) | $121 | $105 |
| Class A rent (local) | 95 GBP | 95 CHF |
| Vacancy | 8.6% | 3.8% |
| Trend | rising | flat |
| Prime yield | 4.5% | 3.2% |
| Premium flex / seat / month (USD) | $1,380 | $1,280 |
| Submarkets covered | 7 | 5 |
| Corporate tax | 25% | 19.7% |
| Metric | London | Zurich |
|---|---|---|
| Typical term | 10 yrs | 7 yrs |
| Typical rent-free | 24 mos | 6 mos |
| Lease norms | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. | Standard 5-10 year leases. Rent indexed to Swiss CPI annually. Nebenkosten billed separately. Cautio (deposit) of 3-6 months standard. Cantonal stamp duty applies. |
| Tax note | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. | Effective combined federal + cantonal + municipal corporate tax in Zurich approximately 19.7%. Switzerland's tax cooperation regimes for multinationals (e.g. Patent Box) are meaningful. |
| Metric | London | Zurich |
|---|---|---|
| Talent index (0–100) | 96 | 96 |
| Talent note | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. | Deepest financial and pharma talent pool in continental Europe per capita. Average all-in compensation indexes 96. |
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Zurich: Zurich Hauptbahnhof anchors SBB and S-Bahn. Tram network covers the central city. Zurich Airport is 12 minutes by S-Bahn.
Zurich is the cheaper Class A market on a USD basis.
Talent indices are tied at 96/100.
Zurich has the lower headline corporate tax (19.7% vs 25%). Local incentives can change the effective rate materially.
London typical term is 10 years with 24 months free; Zurich runs 7 years with 6 months free.
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. Zurich: Zurich Hauptbahnhof anchors SBB and S-Bahn. Tram network covers the central city. Zurich Airport is 12 minutes by S-Bahn.
Score London, Zurich and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.