LOWER DEMAND DUE TO CORONA
The effects of the Corona crisis are still evident on the Hamburg market. With a take-up of 231,000 m² in the first three quarters, the Hanseatic City recorded a 44% decline in take-up compared to the same period of the previous year and ended up almost 37% below the ten-year average. The results of the other major German office markets are also noticeably lower than in the previous year, with a decline between just under 18% and 45%. In Hamburg, the fact that there has so far been no deal in the large-scale segment above 10,000 m² is particularly noticeable, but there has also been less take-up than in the previous year in most other size categories. Due to the economic implications of the Corona crisis, many companies are postponing relocation and expansion plans in order to await further developments.
Read the full report by downloading the PDF document.