SLIGHT YEAR-ON-YEAR INCREASE
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The Hamburg warehouse and logistics market delivered a solid performance in the first three quarters of 2026. Total take-up amounts to 283,000 sqm, slightly exceeding the previous year's result by approximately 3%, while remaining more than 8% below the long-term average. Following a very dynamic start to the year with 126,000 sqm in Q1, take-up slowed to 64,000 sqm in Q2. Market activity picked up noticeably again in Q3, with take-up approaching the 100,000 sqm mark.
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This development was driven primarily by larger lease agreements. Two contracts of over 20,000 sqm each were recorded in the third quarter. Both were signed by The Quality Group, which acquired around 23,500 sqm in Elmshorn and a further 20,900 sqm of logistics space in Kaltenkirchen. The largest letting to date was the 50,000 sqm lease by an e-commerce company in Hamburg-Allermöhe during the first quarter.
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Rental levels remained stable compared to the previous quarter but continue to show an upward trend in a 12-month comparison. Prime rent increased by around 4% year-on-year to €8.80/sqm, while the average rent rose by 5% to €6.85/sqm over the same period.