MAJOR DEALS ARE MISSING
On the Hamburg office market, 96,000 m² of space were taken up in the first three months of the year. With this moderate result, the previous year's outcome was missed by around 26% and the long-term average by a good 13.5%. The decisive reason for this is the size structure of the deals concluded to date, which often has a disproportionately large impact on the results of the first few months in particular. In addition, economic growth has generally slowed down somewhat in recent quarters. While the size categories up to 2,000 m² show more take-up than at the same time last year, in contrast to the previous year, no large deals over 10,000 m² have yet been registered. Excluding this category, the market is even at a higher level than a year ago. Thus there is basically a stable demand in the Hanseatic city. However, it remains to be seen what effects the government measures and far-reaching restrictions in the wake of the Corona crisis will have on the office market in the further course of the year.
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