Hamburg is the second largest European seaport with more than 10,000 logistics companies and 330,000 employees in the logistics sector, as well as Europe's No. 1 for the rail transportation of containers. Hamburg Airport, which is close to the city center, is an important transshipment point for express freight for the maritime and aviation industries, among others.
With take-up of 70,000 m² in the first quarter of 2024, Hamburg's industrial and logistics space market recorded its weakest result since the first quarter of 2013. At that time, take-up stood at 58,000 m² according to figures from Grossmann & Berger (G&B). The trend of 2023 thus continued in the first quarter of 2024. At 290,000 m², last year's result was 200,000 m² below the ten-year average. Meanwhile, the upward trend in rents is continuing. Hamburg has now exceeded the €8/m² mark at its peak (€ 8.50/m²), and the average has also risen slightly to € 6.25/m².
