This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.
X

Hamburg: Demand on real estate market remains high

The high level of demand for residential property in Hamburg continues unabated. In premium locations along the River Elbe and the Alster Lake in particular, property prices have levelled out at a high level. In terms of the total sum of sale prices for all residential property transactions, the Hamburg real estate market recorded growth of 7 percent in 2018. The Hanseatic city tops the table of German cities for transaction volumes in the market segment for detached and semi-detached properties, at 1.67 billion euros. “Alongside classic mansions, clients in Hamburg are looking primarily for newly built premium apartments for their own private use,” said Kerstin Heyng, Team Leader of Elbvororte (Elbe Suburbs”) at the Engel & Völkers Market Center Elbe.

Bologna - (Image source: Engel & Völkers Market Center Elbe)

Top prices for luxury properties overlooking the water

Hamburg’s most exclusive residential addresses include the so-called “Elbe suburbs” such as Blankenese, Othmarschen and Nienstedten, in addition to neighbourhoods on the Outer Alster Lake like Harvestehude and Rotherbaum. In 2018, townhouses and mansions in these areas of the city sold for as much as 7.5 million euros. Asking prices for freehold apartments in very good locations such as Eppendorf, Winterhude and the HafenCity reached up to 20,000 euros per square metre during the same period.

Attractive investment opportunities on Hamburg’s real estate market

As a major centre for business, media and culture, Hamburg remains one of the most sought-after real estate locations in Germany. The market is dominated by national clients at present: approx. 90 percent of buyers are German citizens. Investors from the DACH region make up the second largest buyer group. “Despite the sharp rise in prices, properties in Hamburg’s prime locations are still an attractive investment for owner-occupiers and investors alike. The ongoing low rate of interest is making for ideal lending conditions for the acquisition of real estate,” said Jan Witte, Team Leader of  Hamburg-City (“Hamburg City Centre”) at the Engel & Völkers Market Center Elbe.

Outlook: Good and average locations offer potential for development

According to Engel & Völkers, the continuing upward trend on the Hamburg real estate market will lead to price rises in all market segments in 2019. In addition to the existing premium locations, good and average locations will also benefit from strong buyer demand. “ The higher prices are making buyers more cautious however. The market has become more selective and the upward price curve in prime locations has levelled off as a result. We are seeing stronger rates of growth in those areas that directly neighbour the prime locations, where demand is set to rise in the future,” said Kerstin Heyng.

Other trends relating to purchase power and property prices in German cities can be found in the “Engel & Völkers Market Report on Residential Property in Germany 2018/2019”.

Contact us now

Engel & Völkers Bologna
Email
Back
Contact
Please enter your contact details here
Thank you for your request. We will contact you shortly.

Your Engel & Völkers Team
Salutation
  • Mr.
  • Mrs.

You can find out in detail here which data is stored and who can access it.

I can revoke my consent at any time for the future.

Send now

We know the true value of your property

Do you know how much your property is currently worth? No matter if you just want to inform yourself about the current market-price, or if you wish to sell your property for the best price: our experienced marketing experts are happy to assist you with a free and non-binding valuation.
Send now
Back
Contact
Please enter your contact details here
Thank you for your request. We will contact you shortly.

Your Engel & Völkers Team
Salutation
  • Mr.
  • Mrs.
Please enter the property information.

You can find out in detail here which data is stored and who can access it.

I can revoke my consent at any time for the future.

Send now

Follow us on social media



Array
(
[EUNDV] => Array
(
[67d842e2b887a402186a2820b1713d693dd854a5_csrf_offer-form] => MTM5MjE5NzU3NkJ4d29xancwTDVhZWFIRzEycXAxcW9SdElHdVBqMTdV
[67d842e2b887a402186a2820b1713d693dd854a5_csrf_contact-form] => MTM5MjE5NzU3NnlHcUR0Y2VlTXVPUndLMHZkMW9zMnRmRlgxaUcwaFVG
)
)