Market reports for the Hamburg office market 

Highly dynamic office location

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 Q1/2024

Weakest quarter for office space lettings since 2015

The Hamburg market for office space lettings achieved take-up of 85,000 m² in the first quarter. "Even though the result is at the previous year's level, a new dynamic is nevertheless noticeable on the office market - many market players want and need to act now," reports Gordon Beracz, Head of Office Space Letting at Robert C. Spies in Hamburg. Office take-up in the first quarter of 2024 is the lowest at the start of the year for more than ten years. Two trends characterize the current market situation: Scarcity and abundance. Modern space is in short supply. "The strong demand for high-quality, modern office space in the central Hamburg office locations of City, Hafencity and Hafenrand remains unbroken," explains Leon Müller, Senior Real Estate Consultant at Angermann Real Estate Advisory. "However, the significant shortage of available space is preventing a higher take-up rate. Matthias Huss, Head of Hamburg Office at Savills, adds: "This shortage is likely to continue, as fewer project developments are currently being realized and high pre-letting rates are often required for construction to begin." In view of the numerous insolvencies among project developers, tenants are highly skeptical of project lettings.

  • Prime rent is between € 33.00/m² and € 35.50/m²
  • The average rent is between € 19.70/m² and € 21.50/m²
  • Vacancy rate of 4.8 %
  • Prime and average rents are expected to remain largely stable at the current high level in 2024

Market reports on prices, rents and current market trends in 2024

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 for the 1st quarter of 2024 in Hamburg.


The latest office market report for Hamburg for the 1st quarter of 2024. 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 Q1-2024 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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