SOLID LEASING ACTIVITY DESPITE ECONOMIC UNCERTAINTY
-
Hamburg’s logistics and warehouse market delivered a solid performance in the first half of 2026. Total take-up reached 190,000 sqm, down 14% year-on-year but only 8% below the long-term average. Following a dynamic start to the year, activity moderated in the second quarter with 64,000 sqm of take-up. Nevertheless, given the subdued economic environment and ongoing global uncertainties, the half-year result can be viewed positively.
-
While the uncertain economic outlook continues to prolong decision-making processes in some cases, it has not prevented major transactions from being completed. The largest deal of the year remains the leasing of around 50,000 sqm by an e-commerce company in Hamburg-Allermöhe in the first quarter. In Q2, a logistics service provider’s lease of approximately 27,000 sqm in the port area was the stand-out transaction.
-
Rental levels remained stable compared with the previous quarter but increased year-on-year. Prime rent currently stands at €8.80/sqm, representing growth of 3.5% over the past 12 months. The average rent rose by 5% to €6.85/sqm.