Hamburg, Germany

Mailing Address

Caffamacherreihe 7
Hamburg 20355
Managing Director: 
Thomas Loeffler
+49 40 360 360 0
+49 40 360 360 36

Area Overview

Located on the river Elbe, Hamburg is the economic and cultural center of Northern Germany. With some 1.7 million inhabitants within the city boundaries and in total five million in the greater metropolitan region, Hamburg is not only the second largest city in Germany, but an important business and trade destination. Hamburg harbour is the second largest in Europe in terms of container handling, only second to Rotterdam. Its proximity to the North Sea and Baltic Sea and its excellent inland connections make it a hub for trade and transport flows in Northern Europe. Although trade always was and still is a very important pillar of the local economy, Hamburg’s economic landscape is overall diversified with a broad industrial and service sector base. Hamburg is a leader in medical technology and biotechnology and home to international corporates like Helm AG, Beiersdorf (Nivea), Mont Blanc, Otto Group and ECE – just to name a few. Also industrial corporates like Airbus and Siemens Wind Power are located here. The Hanseatic city is one of Germany’s leading media and publication hubs, with major magazines and newspapers like Die Zeit and Der Spiegel founded and published in Hamburg. Moreover, the city is a center for creative advertising, design and games. Major media brands in all sectors have an office in Hamburg.



Hamburg’s office market is the third largest in Germany in terms of stock with some 14.74 million sq.m office space – outperformed only by Munich and Berlin. For many years, Hamburg’s office market was the least volatile in Germany with take-up, rents and vacancy moving in comparatively narrow bands. This has changed in the past years, driven by the development of a brand new city district right in the heart of the City. HafenCity is located on the river Elbe in walking distance to Hamburg town hall and thus the CBD. HafenCity features modern architecture and at the same time listed historical buildings. The maritime yet urban atmosphere with its mix of office, residential, entertainment and retail attracts major corporates like Kühne+Nagel and Unilever just as much as international law firms, media agencies, tech firms and shipping agencies. The development of this new city district gave Hamburg’s office market an overall boost in the past years. It was the third highest letting volume every recorded in the Hanseatic City. With a moderate completion level – the majority pre-let – and a high letting volumes, office vacancy decreased over the year 2015. Prime rents gave in to upward pressure and rose over 2015. Overall average rents are moving upwards. Hamburg’s office market is forecast to hold stable in 2016 with vacancy further decreasing and rents edging upwards. Hamburg’s most sought after office submarkets are CBD and Hafencity.


Hamburg is Germany’s top retail location in the North. Its historical and vast CBD is home to national and international retailers active in the mid-market to luxury segment who value Hamburg’s above average purchasing power of 111. Whereas Mönckebergstraße and Spitalerstraße cater for the mid-market segment, Hamburg’s western part of the CBD with Jungfernstieg, Neuer Wall and Große Bleichen attracts mostly luxury retailers and shoppers. Due to its historic city development, Hamburg has a number of strong retail destinations outside the CBD which provide retail facilities for entire city districts and beyond e.g. Schanzenviertel (Schulterblatt), Winterhude (Mühlenkamp), Eppendorf (Eppendorfer Baum) and Altona (Ottenser Hauptstraße). As Hamburg is home to international shopping center developer ECE, it comes as no surprise that shopping center density is above average in the Hanseatic City. They are located within the CBD, in the heart of city districts and on the outskirts.


Hamburg harbour is the second largest in terms of container handling in Europe only outperformed by Rotterdam. Container handling amounted to some 8.8 million TEU in 2015 and another 138 million tons passed through the harbour in the past year. Hamburg harbour offers excellent infrastructure for modal split what creates high demand for logistics space in and around the harbour. As supply is relatively limited, prime rents are among the highest in. Hamburg is located on major highways linking the city to Scandinavia in the North, Berlin and Poland to the East, Hannover and Frankfurt to the South, Bremen and the Netherlands to the West.


For a number of years now, investors value Hamburg’s diversified economy, the city’s overall economic strength and its comparatively solid leasing markets. Accordingly, investment volumes steadily rose over the past few years. As in so many other German cities, it was the second highest result ever recorded just outperformed by the pre-crisis year 2007.

Avison Young in Hamburg

The Avison Young team in Hamburg is led by Thomas Loeffler. The growing team comprises office leasing, investment and research experts who provide national and international clients with customized real estate advisory solutions in Hamburg and the greater region.

Imprint Germany

Service Provider: Avison Young - Germany GmbH Neue Mainzer Straße 28, 60311 Frankfurt am Main, Germany

Authorized representatives: Udo Stoeckl (Managing Director), Markus Bruckner (Managing Director), Frank Loeblein (Managing Director), Thomas Loeffler (Managing Director) and Stephan Heinen (Managing Director), Neue Mainzer Straße 28, 60311 Frankfurt am Main

Regulatory authority: Public Order Office (Ordnungsamt) Frankfurt am Main, Kleyerstrasse 86, 60326 Frankfurt am Main

Corporate register and register number: Local Court Frankfurt am Main, HRB 95894

Tax registration number: DE291773639