Germany - Hamburg

Office Market Hamburg - Q3 2011

Q3 - 2011

Office market Hamburg Q3 2011

The take-up result of 385,000 sq m in the Hamburg office market was around 4% higher than the previous year’s result. The owner-occupied proportion was 14%. At year-end, the lowest level of completions for five years is expected at 192,000 sq m. Thus as only a very small volume of speculative space came onto the market, the vacancy volume reduced significantly and was at around 1.09 million sq m at the endofthethirdquarter.Thevacancyratefell accordingly to 8.2%. A reduction in the amount of unlet space is also anticipated for 2012. As the vacancy rate approaches the 8.0% mark, the prime rental level is again on the move. This has risen by 2.2% compared to the previous year to €23.00 /sq m/month, while in the same period the average rent has remained nearly stable at €13.95 /sq m/month







topic: properties lease rent Hamburg, realestate Hamburg, real estate prices Hamburg, real estate market report Hamburg, market analysis Hamburg, commercial real estate Hamburg, commercial property to let Hamburg, real estate business Hamburg, office space in Hamburg, real estate agents Hamburg, office to rent in Hamburg, property market Hamburg, rent - lease commercial properties Hamburg

Author(s): several

Source: CB Richard Ellis

Published: 27.10.2011