Market reports for the Hamburg office market 

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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 Q3/2023

The end-of-year sprint has started

In the first three quarters of 2023, the Hamburg market for office leasing achieved a take-up of 326,100 m². In the last three months, a lack of deals by major customers has meant that quarterly take-up has settled at the level seen during the Corona pandemic. Around 80 % of the take-up achieved was in existing properties.

Demand for existing space is generally high, but only if the location, condition and standard of fit-out are also of a high quality. Particularly in the highly sought-after prime locations, high-quality offices are hardly available on the market. At the same time, office space that can be occupied at short notice and meets the requirements of potential tenants is scarce and fiercely contested. Office buildings that are no longer up to date have to be refurbished in order to find a suitable tenant again. The necessary investments should not be underestimated, but pay off in the medium to long term through the realized adjustment of market rents.

  • Prime rent remains unchanged at record level of 35.00 €/m²
  • The average rent is 21.10 euros/m²
  • Vacancy rate of 4.5 %
  • For 2023, prime and average rents are still expected to largely stabilize at the current high level
  • Total area turnover in 2023 is expected to be slightly below the level of the 5-year average and will reach a maximum of 450,000 m²

Market reports on prices, rents and 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 for the 3rd quarter 2023 in Hamburg.


The latest office market report for Hamburg for the 3rd quarter 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-Q3 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.

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