1.9 BILLION INVESTMENT VOLUME
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In 2025, €1.9 billion was invested in Hamburg's market for commercial real estate. This means that the Hanseatic city's result is around 17% below the previous year's result (€2.3 billion), but ranks third among the A-cities behind Berlin and Munich. Similar to the other top locations, the consolidation phase in Hamburg is already relatively advanced. However, the noticeable improvement in investor sentiment last year has not yet been reflected in a significant increase in investment volume.
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For a market recovery, which is also visible in an increase in investment volume, Hamburg has so far lacked a higher frequency of large-volume transactions. Last year, three major deals over €100 million were registered: A nursing home portfolio in the mid three-digit million range (Q1), the Atlantic Haus, an office property in the lower three-digit million range (Q3) brokered by BNP Paribas Real Estate, and the Holsten area, a development site (Q4).
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While the prime yield level of office properties has stabilised at 4.25%, the net prime yield of retail high street buildings in prime locations has risen by 10 basis points to 3.85%. A slightly larger yield increase of 25 basis points was registered by warehouse and logistics space, which now yields 4.50%.