Skip to main content Skip to footer

Hamburg: Office Leasing | Investment Q1 2021

Download Report

Market at a glance

The Hamburg office leasing market finished out Q1 with 128,100 sqm in take-up, up 30% from previousyear results and exceeding the 100,000 sqm threshold for the first time since Q4 2019. The result came in 9% above the 5-year average and 15% above the 10-year average. With a total of 136 leases signed, leasing activity was significantly higher compared to the previous year, in which 126 leases were recorded. Four leases were signed in the space segment of over 5,000 sqm. The public sector accounted for 19% of takeup, making a significant contribution to a favorable start to the year. The vacancy rate recorded a slight increase to 3.2% in Q1. Prime rents remained stable at €30.00 per sqm, while average rents increased to €17.70 per sqm as a result of high-priced, largescale lease signings. Assuming the current market environment gradually improves, we expect annual take-up of up to 400,000 sqm for 2021.


Hamburg: Office Leasing | Investment Q1 2021

Download Report
Related Experts

Susanne Kiese

Head of Market Intelligence & Foresight | Düsseldorf


Susanne joined Colliers International Holding GmbH in February 2016 as Head of Research Germany. Before, she worked as a Senior Research Analyst for Hypothekenbank Frankfurt / Eurohypo, a specialist bank for real estate and public finance for almost 12 years. Susanne was also Research Analyst with Deutsche Gesellschaft für Offene Immobilienfonds (DEGI) GmbH, the property related investment company of Allianz Dresdner Property Group (now part of Aberdeen). 

View expert