Sell residential in Hamburg.

When buying an apartment or mixed-use building we review rent roll, vacancy, capex backlog and the mix of residential and commercial units.

Rent regulation, preservation areas and energy condition affect price and financing. Submit your acquisition profile as a search brief.

Hamburg remains one of Germany most structurally undersupplied residential rental markets. The 2025 Mietenspiegel (reference date 1 April 2025) set the median at 9.94 EUR/sqm/month, up 1.12% on 2023, and for the first time used a median rather than an arithmetic mean. Actual average net cold rents sit around 9.11 EUR/sqm (Hamburger Mietenstudie 2025), but these regulated in-place figures sharply understate the re-letting market, where asking rents run 30-60% above the index. Average standard-unit re-let rents are around 14.00 EUR/sqm and new-build around 17.50 EUR/sqm, with prime submarkets such as Eimsbuettel (15.06 EUR/sqm), Hamburg-Nord (14.87) and Altona (14.82) leading per ImmoScout24 Q1 2026 WohnBarometer. The demand-supply imbalance is acute. Population reached 1.96 million (+3.4% since 2019) and households 1.07 million, with 54.9% single-person households driving demand for compact units. Yet completions collapsed to roughly 6,000 units in 2023 (-35% YoY) and permits fell 42.9%, well below the city 10,000+ unit target. The result is effectively zero structural vacancy in core districts and the strongest asking-rent growth of any A-city, around 6-7% YoY in early 2026 per Colliers. The top submarkets remain the Alster-belt prime locations (Harvestehude, Eppendorf, Winterhude, Rotherbaum) and Altona-Ottensen, with Wandsbek/Barmbek and HafenCity as strong mid-to-upper tiers and Harburg/Bergedorf at the value end. Emerging momentum is concentrated around the major masterplanned districts: Wilhelmsburg, the Grasbrook/Rothenburgsort axis, Bahrenfeld (Science City) and Oberbillwerder. Veddel and Billstedt remain weak micro-locations. The pipeline is dominated by Gruener Grasbrook (~3,000 units), Oberbillwerder (6,000-7,000 units, the city 105th district), Science City Bahrenfeld and the final HafenCity East phases. Policy is highly interventionist. The Mietpreisbremse applies city-wide, Soziale Erhaltungsverordnungen protect milieu in several inner districts, and the Hamburg Buendnis fuer das Wohnen enforces the Drittelmix with roughly a third of new units publicly subsidised. Counterweights include IFB subsidies, faster permitting and the cost-cutting Gebaeudetyp-E standard. Over the next 12 months the central tension is that strong tenant demand and near-zero vacancy hand landlords pricing power, while regulation and uneconomic construction economics keep free-financed rental supply scarce and push priced-out households toward the Speckguertel.

Average asking rent (re-let, existing): approx. 14.00 EUR/sqm/month; New-build asking rent (standard unit): approx. 17.50 EUR/sqm/month; Top asking-rent submarket (Eimsbuettel): 15.06 EUR/sqm/month (ImmoScout24 Q1 2026); Mietenspiegel 2025 median (ref. 01 Apr 2025): 9.94 EUR/sqm/month (+1.12% vs 2023).