Hamburg Rents Surge by 6.7 Percent in One Year, Institute Reports

Henrik MüllerOctober 16, 20262 Mins read9

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The increase in apartment rents has continued to accelerate, as reported by the Kiel Institute for the World Economy. In Hamburg, asking rents rose by 6.7 percent compared to the third quarter of 2025.

Hamburg Sees Sharpest Annual Rent Increase Among Major German Cities

In the third quarter of 2026, rents increased most sharply in Berlin and Düsseldorf among Germany’s eight largest cities. However, on an annual comparison, Hamburg experienced the strongest increase. Within one year, asking rents in the Hanseatic city rose by 6.7 percent. Nationwide, the nominal increase in rental prices from July to September, without considering inflation, was 3.7 percent. Inflation-adjusted (real), the institute calculated an increase of 0.7 percent.

Hamburg Rental Prices Up 75 Percent in Ten Years

In Hamburg, the average cold rent is 16.50 Euros per square meter. This translates to approximately 1,150 Euros cold rent for a 70-square-meter apartment. Over the past ten years, square meter prices have even increased by about 75 percent.

Since summer 2025, Hamburg has once again surpassed Berlin in rental prices. In Berlin, the average rent is 15.80 Euros per square meter. There, asking rents primarily increased between 2022 and 2024, remaining relatively stable since then.

Munich Remains Most Expensive for Housing

Housing in Munich remains the most expensive, with an average cold rent of 23.70 Euros per square meter. Frankfurt follows with a significant gap (17.90 Euros per square meter), then Hamburg. The most affordable large city to live in is Leipzig (10.40 Euros per square meter).

New Builds in Major Cities Unaffordable for Many

The dynamics of rental prices are slightly increasing again, said housing market expert Jonas Zdrzalek from the Kiel Institute. Prices for existing apartments developed comparatively strongly. These are already occupied apartments, which tend to be cheaper than new builds. “New builds in large cities are among the most expensive offers on the rental market,” said Zdrzalek. “At these prices, only a smaller circle of households qualifies as tenants. This is consistent with the fact that new build rents have recently risen less sharply than existing rents.”