At a Glance Q4 2023

Investment market Hamburg

Investmentmarkt Hamburg


Last year, the market for real estate investments throughout Germany was dominated by higher interest rates and the absence of an economic backdrop. The Hamburg market was no exception. With a transaction volume of €1.27 billion, the strong result of the previous year was undercut by around three quarters and the long-term average by a good 69%. The transaction volume is therefore roughly at the level of the financial crisis. The very good performance of the Hanseatic city in recent years was due in particular to a large number of large-volume core transactions in the office sector. However, the considerable increase in the cost of financing has led to a noticeable flattening of transaction activity in this segment, which is why the low market momentum among the top cities in Hamburg is reflected most strongly in the volume of transactions. However, there are increasing signs that the pricing phase has come to an end. In the final quarter of the year, the market already showed a clear upturn overall. At €630 million, almost half of the total transaction volume can be dated to the last three months of the year. The sale of Strandkai 1 for more than €150 million, a core transaction from the office segment, contributed significantly to this.

Read the full report by downloading the PDF document.
Download this market report as PDF