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 Q2/2025

Hamburg's office market shows first signs of weakening after a strong start to the year

In the second quarter of this year, a total of between 92,000 and 94,000 square meters of rental space was brokered on the Hamburg office space market, according to reports by estate agents Grossmann & Berger and Angermann. These figures reflect activity in the first quarter and show that, despite various challenges, letting activity has been solid.

For the first half of the year as a whole, the volume of space let amounts to around 216,000 to 218,000 square meters. Although this total represents an increase of 5 to 11% compared to the same period last year, the overall trend is characterized by a certain restraint.

One reason for this reluctance is the limited supply of attractive new build space. Many companies are therefore still opting to extend existing leases instead of looking for new space. In addition, macroeconomic uncertainties are having an impact on market development, leading to a more cautious attitude among landlords and tenants.

Due to the decline in new construction projects, the focus is currently very much on existing properties. New buildings are few and far between, and revitalization measures are only taking place in isolated cases. A revival of the project pipeline would be desirable, as the Hamburg office market traditionally relies heavily on speculative new builds. To date, most take-up has therefore come from existing buildings.

Although demand for office space remains high, it is very selective. Properties that are of a high quality in terms of location, condition and fit-out standards are particularly sought after. However, such high-quality properties are hardly available in the sought-after prime locations, which makes the situation even more difficult.

  • Prime rent is between 32.50 €/m² and 35.00 €/m²
  • The average rent is between 20.50 €/m² and 21.50 €/m²
  • Vacancy rate of 6.1 % (G&B)
  • A total take-up of 320,000 to 370,000 m² is forecast for 2025. Demand remains dynamic and is currently shifting increasingly from HafenCity to the city center.

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 for the second quarter of 2025.

Various office buildings in hamburg

Angermann

The latest office market report for Hamburg for the 2nd 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 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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