Hamburg Office Leasing Market Q1 2026: Number of Transactions Up 40 Percent

Cushman & Wakefield reports that Hamburg's office leasing market recorded 100,400 sq m of take-up in Q1 2026, approximately 9 percent below the prior year, while the number of transactions increased 40 percent year-on-year to 140 deals, reflecting highly fragmented demand dominated by small and medium-sized units. Prime rent remained stable at €37.00 per sq m, the weighted average rent declined marginally to €21.85 per sq m, and the vacancy rate rose to 6.6 percent by quarter-end.