SOLID RESULT IN A CHALLENGING ENVIRONMENT
Despite difficult conditions, the Hamburg office market benefited from its broadly established demand base in the first half of the year and achieved take-up of 223,000 m². This result is 26% below the very high prior-year result and a good 9% below the ten-year average. In a nationwide comparison, some of the other major locations recorded higher take-up losses, nevertheless Hamburg is in third place behind Berlin (262,000 m²) and Munich (237,000 m²). Overall, there is still good demand in all size classes, although some companies are tending to downsize. RTL Deutschland was responsible for the largest letting to date, taking 17,200 m² in HafenCity following its takeover of the Gruner + Jahr publishing house. In the City submarket, the Hamburg Parliament rented around 9,800 m² on Alter Wall and Deutsche Giganetz occupied 7,300 m² in the TRIIIO office ensemble, the former headquarters of Hamburg Süd.