Market reports for the Hamburg office market
© Claas Möller
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 Q4/2022
Weak end of the year in the strong rental year
Many large leases in Hamburg from January to the end of September ensured a very dynamic leasing activity. Due to further substantial requests, the brokerage industry was optimistic in the autumn and expected a new record year. However, the fourth quarter, with sales of 100,000 m², fell significantly short of expectations. As several major users were unable to successfully conclude their negotiations in the fourth quarter, this excess demand suggests a strong start to the year. Overall, the Hamburg office market achieved a very good result with an increase of 15 % compared to the previous year.
The Hamburg market for office space achieved a record turnover of 615,000 m² in 2022.
- Sales of office space increased by 15 % compared to the same period of the previous year
- Peak rent increased in the course of the quarter, quoting 31.50 Euro/m² occasionally 37.00 Euro/m²
- The average rent is 21,50 Euro/m²
- The vacancy rate shows a further downward trend
- Medium-sized and large companies are re-entering the market
- In the case of office locations, there is still a clear concentration of demand on observe locations with excellent infrastructure and best location quality
- For 2023, peak and average rents are expected to largely stabilise at the current high level
