Hamburg Office Market Q2 2023

The Hamburg office market maintains its position as the third strongest top office location after Berlin and Munich and recorded a take-up volume of 217,200 sq m in the first half of 2023. Compared to the reference value, the average ten-year comparison, the first half of 2023 shows a decrease of 14% and compared to the previous year even a decrease of 25%. The reason for this is the continued absence of large-volume deals over 20,000 sq m. The largest transaction in the first half of the year, with around 17,200 sq m, was attributable to the letting of the former Marquard-Bahls building in HafenCity to the user RTL Deutschland, which now also includes the former publishing company Gruner & Jahr.