MARKET RECOVERY CONTINUES
The Hamburg office market achieved a take-up of 213,000 m² in the first half of the year, exceeding the weak result of the previous year by a good 40%. This is a further step along the positive trend of the first three months, which had already seen a significant market revival. While 2020 was strongly characterised by the effects of the Corona crisis and a related reluctance on the office market, companies are now increasingly focusing on changes in office space again. Nevertheless, there are still some sectors, such as coworking or the travel industry, that are demanding less space than before the crisis. It is therefore unsurprising that the current half-year result is still around 9% below the ten-year average. However, in contrast to the previous year, three large contracts over 10,000 m² have already been registered, including the Staatsanwaltschaft Hamburg (Department of public prosecution) with 17,600 m² in the City, Signal Iduna with 13,000 m² in City Nord and Wintershall DEA with 11,600 m² in HafenCity.