Hamburg Office Market Q3 2026

The Hamburg office leasing market recorded take-up of around 237,200 sq m in the first nine months of 2026, representing a decline of approximately one quarter compared with the same period last year. This was mainly attributable to the lower number of large-scale transactions, while market activity continued to be driven by smaller and medium-sized lettings. More than four out of five registered transactions involved space of up to 1,000 sq m. At the same time, owner-occupier decisions provided stability, accounting for around 16% of total take-up, significantly above the long-term average.