Summary and analysis of Hamburg's current office real estate market conditions.
Insight
Hamburg Office Market Dynamics, Q1 2025
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In the first quarter of 2025, the Hamburg office leasing market recorded a take-up of 127,200 sq.m., representing an increase of 41% compared to the same period last year. In terms of leasing transactions, the result of 126 deals is about 9% below the value of the comparable period.
The vacancy rate at the end of the first quarter of 2025 was 5.4%, which is 60 basis points above the level of the previous year's quarter. Currently, around 856,500 sq.m. of office space is available on the market in the short term.
The prime rent has remained stable since the 3rd quarter of 2024 and amounts to 36.00 €/sq.m./month.