Market reports for the Hamburg office market 

Highly dynamic office location

While Hamburg’s office market is shaped by a decline in available space, offices will continue to play an important role in the future. Especially centrally located properties with high efficiency, excellent connectivity and attractive local supplies and services will continue to benefit from high demand. What is more, offices will play a decisive role in facilitating personal encounter and serving as a networking platform for members of staff, business partners and clients. The market reports provide you with more detailed information on the current market situation in each of Hamburg’s districts.

Our real estate partners offer you access to the latest office market reports. Search specifically for rents, returns and purchasing prices in Hamburg’s office, industrial and retail space market.

The Hamburg market reports provide you with some general information about the market to assist you with your real estate decisions. Find out more about the latest developments on the Hamburg real estate market.

Office market Q4/2023

Declining office space turnover

In 2023, 428,500 m² of office space was realised in Hamburg, which is around 25 % less than in the same period of the previous year. In the fourth quarter, sales of floor space amounted to 106,780 m², which was roughly on par with the other quarters of the previous year. The decline in space sales on the Hamburg office market is mainly due to significantly lower demand in the space segment from 5,000 m², as larger users in particular continue to adapt to the hybrid office work environment. Even in view of the more difficult economic environment, the decision-making processes are dragging on. Faced with subdued demand for space, many landlords are stepping up their efforts to attract long-term users or retain their existing tenants. In return, they are increasingly willing to make concessions in the form of subsidies for expansion costs or rent-free periods. The vacancy rate in Hamburg rose again in the fourth quarter and stood at 3.9% at the end of the year. The Hamburg market thus has the second lowest vacancy rate of all the top six office markets after Cologne.

  • Top rent moves downwards to 34,00 €/m²
  • The average rent is 21.50 Euro/m²
  • Vacancy rate of 3.9 %
  • For 2024, peak and average rents are expected to remain largely stable at the current high level

Market reports on prices, rents and current market trends in 2023

BNP Paribas Real Estate

This quarterly market analysis report provides an in-depth basis for decisions relating to commercial real estate in Hamburg.

Engel & Völkers Commercial

The Engel & Völkers Research reports offer you the latest overview of the market situation at numerous E&V Commercial locations.

Savills Deutschland

Here you will find the office rental and commercial investment market report for the whole of 2023 in Hamburg.


The latest office market report for Hamburg for the full year 2023. You will find details on uptakes and vacancies, as well as the average and premium rents. 


CBRE’s regular market reports and newsletters contain transparent information and expert expertise on the current market situation and the important real estate trends in Hamburg.

Grossmann & Berger

The Q1-Q4 2023 market report gives you an assessment of office space uptake by size and industry, of premium and average rents, of vacancy rates and forecasts regarding completions.

The Consent Management Platform ( we use could not be loaded. This can happen if AdBlockers incorrectly block this URL. Some features such as maps, proximity search or forms, cannot be used this way. To use these features, please deactivate your AdBlocker.