NO. 2 AMONG GERMANY'S TOP MARKETS
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Hamburg’s investment market recorded a transaction volume of €967m by the end of the first half of 2026. While this remains 29% below the long-term average, volume was up 19% year-on-year, marking the strongest half-year result since the start of the interest rate hiking cycle in 2022. With this result, Hamburg ranked second among Germany’s top investment markets, behind Munich.
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Following a subdued start to the year, with transaction volume of €300m, market activity picked up noticeably in the second quarter. At €667m, Q2 not only accounted for the majority of the half-year result, but also marked the second-strongest quarterly result since 2022. Transaction frequency also exceeded the previous year’s level, pointing to a broader market recovery. The largest transaction of the past three months was the acquisition of Alsterhaus by a joint venture between the Schoeller Group Family Office and a pension fund.
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Over the past twelve months, net prime yields for office properties and high-street assets have each moved out by 10 basis points. In the logistics segment, the yield increase was significantly more pronounced at 35 basis points. Net prime yields in Hamburg currently stand at 4.35% for office properties, 3.85% for high-street assets and 4.60% for logistics properties.