REALOGIS: Hamburg's market for logistics and industrial properties is slowing down, rents continue to rise

This means that the continuous upward trend in rents registered since the 1st half of 2018 continued, with average rents both in absolute and percentage terms stronger than in all previous half-year periods.

By building type, big-box properties dominated with 126,200 m² or 65% of total take-up. Areas that cannot be assigned to big-box properties or business parks followed with 53,400 m² (28%). Business parks accounted for 14,300 m² (7%).

With 146,000 m² or 76%, the Hamburg urban area was by far the sub-region with the highest take-up. The three largest deals in the first half of the year represented 105,080 m² or 72% of take-up within the city area.

Within the city limits, Hamburg East was clearly ahead with 94,100 m² or 65%. The southern urban area reached 46,900 m² (32%). In the west of Hamburg, take-up amounted to 5,000 m² (3%). No financial statements were registered in Hamburg North.

With 23,900 m² or 12%, Hamburg's southern region ranked second among the sub-regions. The northern area followed with 15,800 m² (8%). The western area accounted for 5,800 m² (3%) and the eastern area 2,400 m² (1%).

The Hamburg market area was a pure rental market in the 1st half of 2026. Owner-occupier contracts were not registered.

With 101,900 m² or 53%, retail companies ranked first among the user groups. The decisive factor was e-commerce, which accounted for 99,800 m² or 98% of the industry's turnover within the retail sector. The two largest deals of an e-commerce company and Blitz Distribution GmbH together accounted for 83,470 m². This means that they accounted for 84% of take-up in the e-commerce sub-segment. Brick-and-mortar retail contributed 2,100 m² (2%) to retail space take-up.

The logistics/freight forwarding sector followed in second place with 69,600 m² or 36%. The financial statements of an aviation company in Hamburg accounted for 21,610 m² (31%) of the industry's turnover. Industry/production took third place with 16,400 m² (8%). The collective category "Other" came to 6,000 m² (3%).

Large areas from 10,001 m² shaped Hamburg's market activity. This size class accounted for 105,080 m² or 54% of total take-up. The segment's revenue was generated entirely by the three largest deals of the first half of the year.

The category of larger areas from 5,001 to 10,000 m² followed with 46,500 m² or 24% market share. This means that space of 5,001 m² or more together accounted for 78% of total take-up. Medium-sized areas between 3,001 and 5,000 m² accounted for 21,800 m² (11%). Areas between 1,000 and 3,000 m² contributed 10,700 m² (6%). At 9,820 m² (5%), very small areas of less than 1,000 m² played a minor role.

• Take-up: 193,900 m²
• Prime rent: €8.50/m²
• Average rent: €7.30/m²
• Existing areas: 193,900 m² | New building on a greenfield site: 0 m² |
New building on brownfield: 0 m²
• Tenants: 193,900 m² | Owner-occupier: 0 m²