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.
The Hamburg market for warehouse and logistics space got off to a strong start in 2025. In the first quarter, 125,000 m² was taken up, which represents a significant increase of 89 % compared to the weak prior-year quarter. Despite the ongoing economic challenges, such as the weakening economy and geopolitical uncertainties, which increasingly pose risks to global trade, the market was able to outperform the average result of the last ten years by around 14 %.
A key reason for this positive result is several large transactions by owner-occupiers. Of particular note is the start of construction of the Körber Campus in Bergedorf, which represents the largest take-up of space of the year to date with around 34,300 m² for production and logistics. Other significant owner-occupier agreements include the new 10,500 m² site of the pharmaceutical logistics company Loxxess in Rosengarten and the start of construction of the BIG occupational safety logistics center in Buchholz with 10,000 m². These deals clearly show that owner-occupiers currently dominate the majority of the market, increasing their share of total take-up to a high 56%.
The largest letting transaction of the year was also recorded in Hamburg: Still Mechatronik secured 8,200 m² in Hamburg-Billbrook. As all of the above-mentioned deals were for new builds, the proportion of new builds is currently almost two thirds, which is one of the highest figures in the history of the Hamburg market.
As far as rental trends are concerned, the picture is currently divided. While the prime rent remains stable at €8.50/m², the general rent level has risen slightly. Due to the high demand for modern space coupled with a shortage of supply, the average rent in the market area has risen by 10 cents to €6.50/m².
