TAKE-UP INCREASED SIGNIFICANTLY COMPARED TO 2024
-
Hamburg's market for warehouse and logistics space closed 2025 with a solid take-up of 310,000 sqm, around 19% higher than in the previous year. This increase should be seen as a positive signal, especially against the backdrop of the still challenging economic conditions. Nevertheless, it should be noted that the market has been at a low level overall since the end of 2022 and that the current result is around 31% below the long-term average. Although there is generally broad demand for well-connected properties, especially in the core area, many companies are currently acting cautiously. Leasing decisions are increasingly demand-driven, rarely speculative and are often tied to specific usage requirements and budget specifications. In this context, shorter lease terms are currently also in the focus of demand.
-
Following on from the development of take-up, the picture for rents is stable to slightly increasing: prime rents remained constant at €8.50 per sqm over the course of 2025, underlining the continued robust demand for modern space in prime locations, although leasing decisions are currently more driven by costs and efficiency. Meanwhile, the average rent has risen by 5% compared to 2024 to €6.70 per sqm. While older properties in peripheral locations are characterised by selective demand, the share of new construction in take-up in 2025 is at a slightly higher level of 34%, which is reflected in the moderate increase in price levels overall.