Despite economic uncertainties, the Hamburg office lettings market has seen stable demand following the first three quarters of 2026. Although take-up, at around 286,900 square metres, is eight per cent below the previous year’s level, flexible lease models and greater space efficiency are becoming increasingly important. With a 49 per cent share of take-up, the size category of up to 1,000 square metres remains the market’s main driver.
In the investment market, geopolitical uncertainties and volatile interest rates are dampening activity. At 1.14 billion euros, the transaction volume is around 20 per cent below the previous year’s figure. Office property nevertheless remains the strongest asset class, accounting for around 42 per cent of the market, whilst pricing continues to pose a challenge, particularly outside the core segment in non-central locations.
For the year as a whole, Colliers expects office space take-up of around 380,000 square metres and a transaction volume of between 1.6 and 1.7 billion euros.
