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Higher sales and stable prices in north-east Hamburg
Market Report Update: Autumn 2026 – In a nutshell
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The Hamburg residential property market will continue its upward trend in 2026. The sub-markets in north-east Hamburg, which are characterised by their proximity to nature whilst remaining easily accessible, will benefit particularly from this development. Catch-up effects following the rise in interest rates and demographic change are driving up buyer demand in the Alstertal, the Walddörfer, as well as in Rahlstedt and Marienthal.
Sales figures are rising across all segments
Following the slump in 2022 and 2023, the Hamburg market has regained momentum: the Valuation Committee recorded around 10,100 sales for 2025, an increase of approximately 11 per cent. In the north-east, the upturn was even more pronounced – 855 flats sold represented an increase of 58 per cent, whilst growth for detached and semi-detached houses stood at just under 40 per cent, with 793 sales. In the first half of 2026, 379 houses (up 4.1 per cent) and 429 flats (up 4.9 per cent) were added.
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Prices remain stable – quality is the deciding factor
The price correction following the rise in interest rates has come to an end. In the first quarter of 2026, prices for flats in Hamburg were 3.8 per cent higher than in the previous year, whilst prices for detached and semi-detached houses remained stable until the end of June 2026. Individual characteristics remain key factors: location, plot size, build quality and energy efficiency. Properties in need of modernisation require realistic asking prices. At the same time, home ownership is becoming more attractive: rents have risen by over 21 per cent since 2021 and stand at between 13 and 18 euros per square metre, whilst financing conditions have improved compared with the period of high interest rates.
An overview of the sub-markets
Alstertal: high demand, with a particularly limited supply in Wellingsbüttel. Detached houses there cost between 1.4 and 4.0 million euros; in the other districts, prices range from 4,500 to 8,000 euros per square metre, depending on the micro-location.
Walddörfer: Sales figures are similar to those at the start of the decade, with young families dominating the market. Flats cost between 4,000 and 7,500 euros per square metre, whilst detached houses range from 600,000 to 1.9 million euros.
Rahlstedt: In the first quarter of 2026, flat sales almost doubled to 81 units, whilst the average price rose by 6.7 per cent to 4,073 euros per square metre. Townhouses cost between 1.5 and 2.0 million euros; the S-Bahn Line 4 is set to provide a further boost from the end of 2027.
Marienthal and Tonndorf: With a district factor of 1.09, Marienthal is above the Hamburg average – €5,000 to €7,500 per square metre for flats, €950,000 to €1.9 million for houses. In Tonndorf: €4,000 to €6,500 per square metre and €650,000 to €1.0 million respectively.
The market is likely to continue to stabilise. No major price surges are expected – property quality, location and financing remain the key factors. For a more detailed insight into the latest market developments in north-east Hamburg, request our Residential Property Market Update – Autumn 2026 as a free PDF now!
