Hamburg Office Market Dynamics, Q2 2026

At 189,300 sq.m., office take-up in Hamburg in the first half of 2026 was below the prior-year level. Smaller deals continued to characterise leasing activity, while demand focused primarily on central and established submarkets.

At the end of the quarter, vacancy stood at around 1.14 million sq.m., corresponding to a vacancy rate of 7.2%. In the first half of the year, 54,900 sq.m. of office space was also completed.

Following the 14% increase at the end of 2025, prime rent remained stable at €41.00/sq.m./month. Average rent, by contrast, recorded a moderate increase, standing at €22.18/sq.m./month.

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