Hamburg is the second largest European seaport with more than 10,000 logistics companies and 330,000 employees in the logistics sector, as well as Europe's No. 1 for the rail transportation of containers. Hamburg Airport, which is close to the city center, is an important transshipment point for express freight for the maritime and aviation industries, among others.
After a strong first half-year, market activity declined significantly in the third quarter to a turnover of 52,000 m². A total of around 275,000 m² was let or owner-occupied in the Hamburg industrial and logistics market in the first three quarters.
The strong momentum of the first half of the year did not continue in the third quarter: turnover amounted to only 52,000 m². On average, the letting and owner-occupier rate for the first three quarters amounted to approximately 275,000 m² in Hamburg's industrial and logistics segment.
Rental prices remain stable. The prime rent remains constant at €8.50 per m², while the average rent remains at €7.30 per m².
Despite the decline in the third quarter, the market remains stable overall. The constant rental prices underscore the continuing high level of interest in logistics and industrial space in the Hamburg metropolitan region.
