JLL: Hanover's office leasing market scores with consistency

Alexander von Bülow, Branch Manager JLL Hamburg: "The past year 2025 may have been weaker overall than the previous year, but it was much more constant over the course of the year, which speaks for a stable market. While there were drastic differences in 2024 with take-up of between 6,500 m² and 83,000 m² compared to the individual quarters, take-up in the four quarters of 2025 all ranged between 20,000 m² and around 30,000 m². Certainly, each of them has upward potential, as this time there was a lack of lettings of more than 5,000 m² – with one exception – but at the same time this speaks for a healthy basic dynamic in Hanover."

Looking back, the store again reached a deal in 2025 with more than 10,000 m². On the other hand, the size class from 5,000 m² to 10,000 m² came away completely empty-handed, after three deals with a total of 19,000 m² in the previous year.

Once again, the Hanover North-West submarket achieved the largest take-up of space with 30,200 m². The List-Podbielskistraße submarket follows at a distance with 18,100 m², followed by the City with 16,800 m². The sub-markets of the expo and trade fair grounds (minus 72 per cent to 3,400 m²) and Vahrenwalder Straße (minus 53 per cent to 10,400 m²) had to cope with significant declines in a year-on-year comparison.

The vacancy rate rose from 5.4 percent to 6.3 percent over the course of the year. The increase is also partly due to the fact that 68,400 m² of new office space came onto the market. This is 76 percent more than in the previous year and 45 percent more than the average of the past decade. In the fourth quarter in particular, there was a lot of vacancy at 44,800 m², including the renovated Lister Tor, the newly built Technopark Hannover and the modernised Galerie Luise.

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