The new-build market in Geneva is one of scarcity: in a territory with little land left, each project emerges drop by drop — additional storeys, densification, development districts. And it follows a rule that many buyers discover too late: depending on the zone where it is built, the price is free… or controlled by the State. Here is how new-build property works in Geneva, what determines its price, and how to go about it — whether buying off-plan or reselling a recent property.
Two worlds: ordinary zone and development zone
In the ordinary zone, the developer sells at market price — scarcity does the rest. In the development zone, where Geneva builds most of its new districts, the State regulates everything: the initial sale price of PPE (condominium) apartments is approved by the canton as soon as the building permit is granted, and it remains controlled for ten years. Since 2016, the buyer must also occupy the property as their main residence throughout the control period — subletting is prohibited, with fines that can reach 20% of the cost price. In return: an entry price significantly below the open market. It is a pact, not a bargain — one to understand before signing.
Buying off-plan: the actual process
An off-plan sale follows a defined path: reservation of the unit, then a notarial deed — in Geneva as everywhere in Switzerland, a property sale requires authentic form, and the notary secures instalment payments in line with the progress of the works. The buyer chooses their finishes from the ranges on offer — or beyond, for an additional cost —, then comes the handover and its report. Defects are covered by the construction guarantees governed by SIA standards: typically two years to freely report any defect found, five years for hidden defects. The habit that changes everything: a thorough handover inspection, defect by defect, in writing.
What determines the price of a new-build property
For comparable projects, four factors rank prices: floor and orientation — penthouses and corner units go first; outdoor spaces — balcony, terrace or garden, weighted within the floor area as explained in our price calculation guide; features — materials, energy standard, lift, quietness; and additional costs — parking is generally sold separately, and acquisition costs remain payable: registration duties, land registry fees and notary fees — with, for a main residence below the threshold, the Casatax reduction, which applies to new-build as well as older property. A new-build budget should therefore be calculated on an “all-inclusive” basis, not at the brochure price.
New-build guarantees: two years, five years, and a handover not to be rushed
Buying off-plan means buying a work — and the legal regime is not the same as for an older apartment. Three rules determine what you can still claim, and against whom.
Handover is the decisive moment. After delivery, the client must check its condition as soon as possible according to the usual course of business, and report any defects. Either party may request, at their own expense, that the work be examined by experts and that a record of their findings be drawn up. Do it: a handover inspection carried out alone, notebook in hand, amid moving boxes, is the best way to miss something that will prove costly.
Silence amounts to acceptance. From the moment of express or tacit acceptance, the contractor is released from all liability — except for defects that could not have been identified during a proper inspection, or that were intentionally concealed. And the law specifies that “the work is tacitly accepted when the client fails to carry out the inspection and notification required by law”. For a defect that appears later, it must be reported as soon as it becomes known, otherwise the work is deemed accepted with that defect.
Two years, or five. The client’s rights lapse after two years from handover. But for an immovable structure, they lapse after five years from handover — and this period applies both to the contractor and to the architect or engineer who took part in the execution. This is a significant difference: for a structural defect, you have five years, and several parties to address.
A practical consequence for valuing a new or recent property: the handover date is a value factor just as much as the floor area. An apartment delivered four years ago still carries a guarantee; the same apartment delivered six years ago no longer does. Ask for the handover report before making an offer — for second-hand new-builds, it is the document nobody thinks to request.
Access to projects: before marketing begins
The reality of new-build property in Geneva is that the best units are reserved before public marketing begins: by the time a project is advertised, the penthouses and rare layouts are often already gone. Hence the importance of previews: our current developments give access to the projects we market — and we are constantly scouting new land opportunities for developers, which places us early in the chain. For a buyer, the winning approach comes down to two steps: financing approved in advance, and registering for our off-market previews — that is where choice still exists.
Reselling a recent property: there is no such thing as second-hand new-build
A five-year-old apartment is no longer “new” — but it is not older property either: it is compared against both markets at once, with its own advantages (no renovation work needed, recent energy standard, guarantees sometimes still active) and its own constraints. In the development zone, resale during the control period remains subject to the State — capped price and conditions to be met. In all cases, the method is the same as for any resale: calculation first, comparison with actual transactions next, and a professional valuation to settle the matter — technical terms are in the glossary.