Germany - Hamburg

City Report Hamburg 2011

City Report Hamburg 2011

Above-average take-up

In the first half of 2011, the Hamburg office market achieved a turnover of 217,000 m². This was about 18 % up on the prior-year figure and more than 9 % higher than the ten-year average. Only in 2007 and 2008 was the first-half performance better than this year’s. It is particularly notable that this excellent result was largely achieved without large-unit deals – in the first six months of the year, only one lease for premises of over 5,000 m² was concluded. This indicates just how buoyant demand has been in the smaller and mid-range size categories. The business sector ranking was headed once again by other services (22 %)

Author(s): several

Source: BNP Paribas Real Estate

Published: 07.07.2011