Summary and analysis of Hamburg's current office real estate market conditions.
Insight
Hamburg Office Market Dynamics, Q2 2025
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In the first half of 2025, 229,400 sq.m of space was taken up., representing an increase of 15% compared to the same period last year (199,500 sq.m.). In contrast, the number of transactions remains virtually unchanged at 253 deals (252).
The vacancy rate at the end of the second quarter of 2025 stands at 6.1%, which is 110 basis points above the level of the same quarter last year. Currently, approximately 964,000 sq.m. of existing space is available on the market at short notice, as well as an additional 145,000 sq.m. of space under construction.
The prime rent has remained stable since the 3rd quarter of 2024 at €36.00/sq.m./month. The average weighted rent by area is at €20.55/sq.m./month.