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Hamburg Office Market Q2 2026
Demand for high-quality space underpins Hamburg office market
22 July 2026 5 Minute Read
Overview
The Hamburg office leasing market remained resilient in the first half of 2026 despite a still challenging economic environment, although activity fell short of the previous year’s result. Take-up totaled 157,000 sq m, representing a 31% decline year-on-year. Ongoing economic uncertainties continue to shape market activity and are leading to longer decision-making processes for occupiers. Companies are scrutinizing their space requirements more critically, and in some cases, AI-driven changes to business models are already influencing office space demand. At the same time, demand for high-quality office space in central locations remained stable.
Market activity in the first half of the year was primarily driven by smaller leasing transactions. Large-scale occupier deals remained the exception, while Hamburg City maintained its position as the market’s primary demand hub and was once again the strongest-performing submarket in the second quarter. Central locations in particular continued to benefit from occupiers’ pronounced focus on quality, with location and building quality increasingly outweighing purely space-related considerations.
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Research Contacts
Jirka Stachen
Senior Director | Head of Research Consulting Continental Europe
Dr. Jan Linsin
Managing Director | Head of Research Germany
Business Contacts
Marc Rohrer
Managing Director | Head of Investment Hamburg & Region North
