Hamburg multi-family homes: Official 2025 market data

An analysis of transaction figures reveals that the southern Hamburg region continues to benefit significantly

From an investor's perspective, transaction volume serves as a key indicator of a district's attractiveness for multifamily property acquisitions. A high number of closed deals suggests an appealing location with untapped potential, whereas few or no transactions indicate limited development or fully realized return opportunities.

Upon closer examination, it becomes evident that structural strength may not be the primary decision criterion. Central districts like Eimsbüttel (23 transactions) and Winterhude (18) are notable, but it's the southern Elbe districts like Harburg (32) and Heimfeld that lead in transaction rankings. Engel & Völkers Commercial Hamburg anticipates attractive returns from these areas in the coming years. An overview of districts with the most sales in 2025 and their development compared to the previous year can be found here.

In 2025, real estate transactions forecast growth compared to 2024:

Bahrenfeld and Barmbek-Nord by 57%,

Barmbek-Süd by 17%,

Bergedorf by 88%,

Billstedt by 143%,

Blankenese by 25%,

Eidelstedt by 120%, and

Eilbek by 21%.

Eimsbüttel projects a 53% increase in deals, rising from 15 in 2024 to 23 in 2025.

Eppendorf anticipates a 22% growth,

Harburg 7%,

Harvestehude 133%,

Heimfeld 43%,

Horn 175%,

Niendorf 33%,

Ottensen 75%,

Wandsbek 88%,

Winterhude 50%.

These forecasts indicate significant upward trends across all regions by 2025.

Engel & Völkers Commercial Hamburg offers a complimentary, no-obligation consultation to discuss which of the listed districts is most promising for multi-family home sales and to assess the current market value of your investment property.

The price per square meter for multi-family residences in Hamburg is anticipated to rise significantly across most locations by 2025

In addition to the active transaction market in Hamburg, rising demand for Hamburg's multi-family homes in 2025 is evident. The appraisal committee's latest publication highlights increased average and maximum prices per square meter in nearly every location segment. The average price per square meter rose from €2,872 in 2024 to €3,292 in 2025, a 14.62% increase. The peak price surged 45.48%, from €9,517 in 2024 to €13,846 in 2025 for the most expensive property sold.

The "poor locations" once again exhibit the most significant growth in both average and maximum price per square meter, though the limited transaction data introduces a high error margin. "Good locations" show a slight decrease at 2.07% below last year's values. A detailed analysis of location tiers follows.

In suboptimal locations:

Average price is €3,040/m², with a maximum increase of 51%, reaching up to €6,668/m², a 73% increase.

In moderate locations:

Average is €2,386/m², with a maximum increase of 9%, up to €7,682/m², a 25% increase.

For mid-tier areas:

Average is €2,610/m², with a 5% rise, peaking at €6,257/m², a 22% growth.

Prime locations:

Average Price: €3,307/m² with a potential 2% discount,

Maximum Price: €6,709/m² with up to a 9% discount.

Preferred locations:

Average Price: €5,920/m² reflecting an 8% growth,

Maximum Price: €13,846/m² indicating a 45% growth.

Are you considering selling your multi-family or investment property in Hamburg? Leverage recent price trends and demand dynamics to your advantage. Connect with us via our contact form to schedule a complimentary, no-obligation consultation with our multi-family experts. We look forward to meeting you!