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 Q1/2023

Solid start into the rental year

The Hamburg office rental market made a solid start with 99,200 m² in the first quarter of 2023, but there was a 22 % decline in space sales compared to the same period last year. This decline can be attributed to a lower share of owner-occupiers and a lower turnover in the 1,000 to 2,000 m² segment. It remains to be seen whether this decline in acreage sales is only temporary or whether it will continue in the coming quarters. Despite the decline in space sales in the first quarter of 2023, the atmosphere in the Hamburg office market is good. There is a high demand for well-equipped office space in good locations, especially by medium-sized companies up to a size of 5,000 square meters. Sustainability aspects and ESG compliance are playing an increasingly important role in rental decisions.

  • Compared to the same quarter of the previous year, office space sales decreased from 16 % in the first quarter of 2023 to only 3 %
  • Peak rent increased in the course of the quarter, quoting 34.50 Euro/m² occasionally 37.00 Euro/m²
  • The average rent is 21,00 Euro/m²
  • A vacancy rate of 4 % indicates a healthy ratio of supply and demand on the Hamburg office rental market. This means that the market is not affected by an oversupply or a shortage of available office space. Medium-sized and large companies are re-entering the market
  • For 2023, peak and average rents are expected to largely stabilise at the current high level

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 the 1st quarter of 2023 in Hamburg.


The latest office market report for Hamburg for the 1st 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 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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