At a Glance Q1 2021

Office market Hamburg

Büromarkt Hamburg


The Hamburg office market has recorded a take-up of 118,000 m² in the first quarter of 2021, exceeding the previous year's result by almost 23%. It is also a very good result in a long-term comparison, around 4% above the ten-year average and in addition it is the highest quarterly figure since mid-2019. The major deals concluded by the Hamburg public attorney's office in the City (17,600 m²), Wintershall DEA Deutschland in HafenCity (11,600 m²) and Deutsche Bank in City Nord (9,600 m²) made a significant contribution to this result. The 5,000 to 10,000 m² and in particular the 2,000 to 5,000 m² size segments saw above-average take-up. This contrasts with 2020 as a whole, in which only one contract for 10,000 m² was registered and a cautious attitude was often observed, particularly for the larger spaces. Current demand is still somewhat more restrained in the small and medium-sized space segments between 200 and 2,000 m². However, overall it can be concluded that market activity has become more lively again.

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