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 Q3/2025

Hamburg office market achieves increase in turnover 

The Hamburg office market showed solid rental momentum overall at the end of the third quarter. With space take-up of 308,000 m², the result remains 15% below the long-term average of 362,000 m², but slightly exceeded the level of the same period last year (301,000 m²). Given that previous comparative figures were often achieved under significantly more favorable economic conditions, the current result can be considered positive overall.

The prime rent for high-quality office space in Hamburg city center has remained stable at €36.00/m² for 24 months now. The average rent, on the other hand, which experience shows is subject to greater fluctuations, rose significantly in the first three quarters and currently stands at €22.50/m² – an increase of 9% compared with the same period last year. 

On the supply side, the vacancy volume has continued to rise and currently stands at 882,000 m². The vacancy rate is now 6.0%. Around 27% of the total vacancy rate is attributable to space with modern fittings and fixtures. Both conventional and modern vacancy rates have increased compared with the same period last year. Overall, however, there is a clear concentration of vacancies in secondary locations and peripheral areas, while central city center locations account for only 24% of the total vacancy rate.

New office space is increasingly only being developed if pre-letting is secured, as project developers are acting more cautiously following several high-profile insolvencies and tenants are more hesitant to enter into long-term commitments. This is leading to delays in project launches, even though demand is fundamentally there – which is also reflected in the high pre-letting rates. This shortage of modern new-build space is contributing to prime rents remaining stable despite below-average space take-up.

Looking at rent levels, a slight upward trend can be seen overall. After a prolonged period of stabilization, prime rents in particular are likely to rise again in the coming quarters.
 

  • Prime rent is between 32.50 €/m² and 36.00 €/m²
  • The average rent is between 20.50 €/m² and 22.50 €/m²
  • Vacancy rate of 6.1 % (BNP Paribas)

Market reports on prices, rents and current market trends in 2025

Office building

BNP Paribas Real Estate

This quarterly market analysis report provides an in-depth basis for decisions relating to commercial real estate in Hamburg.

Office building in Hamburg Speicherstadt

Engel & Völkers Commercial

The Engel & Völkers Research reports offer you the latest overview of the market situation at numerous E&V Commercial locations.

Modern office building with glass elements

Savills Deutschland

​Here you will find the office rental market report for the 3rd quarter of 2025.

Various office buildings in hamburg

Angermann

The latest office market report for Hamburg for the 3rd quarter 2025. You will find details on uptakes and vacancies, as well as the average and premium rents.

Office building

CBRE

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.

Office building

Grossmann & Berger

The Q1-Q3 2025 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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