Office space for rent in Hamburg

Current trends in Hamburg’s office and service sector: what will office leasing look like in the future?

In recent years, flexible workplace models such as home office, desk sharing, and coworking have gained significant relevance. Flexible usage concepts for office space are therefore more in demand than ever: shorter lease terms, the option to sublet, sale-and-lease-back models, and modular expansions for short-term needs are increasingly becoming standard in the market. Equally important today is the topic of energy efficiency – not only to limit emissions and electricity or gas costs but also to meet the growing societal awareness of environmentally responsible office operations. Engel & Völkers Commercial Hamburg supports you in developing and implementing a tailored office solution – whether using your existing space or a new office property.

At the same time, highly qualified professionals are more sought after than ever, making it important to meet potential employees’ expectations with the right office environment. Under the concept of the “back-to-office strategy,” best practice today is to create a workspace that employees intuitively prefer over home office. Modern communication technology, discreet and functional conference rooms, lounge areas for quick exchanges, and comfortable lighting and climate control – all of these are prerequisites for the office of tomorrow to convince potential employees of the company’s overall appeal. Productivity in a feel-good environment – this is what the office of the future will be all about.

The location of the office space also plays a key role. If employees can conveniently run errands, go to the gym, or dine out near the workplace – and the location is well connected to public transport – it becomes easier to accept the daily commute to the office. Here you can access our current market reports.

City-center locations remain highly sought after: office leasing is booming in these Hamburg districts

Due to the trends mentioned and the variable space requirements of companies, the market situation in Hamburg has gradually adjusted in recent years. Currently, the central areas of Altstadt, Neustadt, and HafenCity are considered the “place to be” for office establishments, as they perfectly meet the desired criteria with numerous modern properties and the availability of suitable infrastructure. In addition, several Hamburg district locations such as Bahrenfeld, with the Otto von Bahrenpark and the old marzipan factory, the Schanzenviertel, Eppendorf, and Winterhude offer first-class conditions for businesses. We are currently observing a focused influx into these locations, as companies want to benefit from the excellent site conditions and are willing to pay higher prices for smaller total spaces.

The result: supply in these locations is limited, and rents remain stable at a high to slightly increasing level. Over the past five years (2018–2023), the prime rent has increased by 29%, now reaching €35.50 per square meter. This trend is further reinforced by low construction activity and high costs for building materials and energy, which additionally drive prices upward. Companies that do not rely on the advantages of these prime locations can find a wider selection in Hamburg’s peripheral areas at more affordable rates. Let the expert team at Engel & Völkers Commercial Hamburg advise you and help identify the office space that best meets the needs of your company.

Well connected and rooted in Hamburg: why Engel & Völkers Commercial Hamburg is your partner for office properties

Engel & Völkers Commercial Hamburg gives you access to all office properties offered in the Hanseatic city: our real estate advisors are highly connected and bring years of experience from which you can benefit in office location acquisition. We support you with forward-looking location analyses and background data, enabling you to maximize the potential of your new office property in Hamburg. In addition, we offer tailored optimization of your space utilization concept to deploy unused capacity elsewhere or to efficiently manage your office allocations. We are also happy to review existing leases for potential optimization opportunities.

For owners and investors, we provide complete marketing services for office spaces, both in the context of sales and leasing. Here, we rely on our proven multi-channel marketing approach with a customized marketing plan, which, thanks to our high-quality online portfolio, direct outreach through our extensive network, and promotion via social media, achieves maximum reach. As part of the marketing process, Engel & Völkers Commercial Hamburg handles all central tasks for you – from determining an appropriate sales or rental price and compiling the relevant documents to fully coordinating viewings and bidding procedures. We carefully pre-select potential tenants or buyers for your Hamburg office property and, of course, provide expert support during contract negotiations and notary appointments. As part of our valuable after-sales service, you can also contact us with any real estate-related questions that arise after the conclusion of the marketing process.