The housing market of Hamburg
The housing market in Hamburg has to be considered, as in many cities, in a differentiated way. We want to concentrate here on the information about the renting market in the popular city areas that are interesting for most of the PROGEDO clients.
There are wonderful living areas especially near the Außenalster and in the Western parts of the city Hamburg, but they do cost their prices. Hamburg belongs to the cities in Germany with the highest rents.
The offer of exclusive and large renting properties is quite small in relation to the demand in the popular areas. Especially in the popular “Elbvororte” (Blankenese, Nienstedten, Gross-Flottbek and Othmarschen) the offer of houses to be rented is very poor. Well equipped houses are offered for € 14,- up to € 18,- rent exclusive of heating per square metre. The wish of families of foreign managers to live near the international school in Othmarschen leads to an intensified surplus of demand. Also the offer of larger apartments is very limited, good properties are offered as of € 13,- rent exclusive of heating. The one who wants to live with his family in a quiet district near the city centre on a high level is here in good hands. Provided that he has the necessary money.
The parts of the city around the Außenalster are really something special. With the exception of St. Georg these districts belong to the most popular living areas for singles and young couples. Rotherbaum and Harvestehude belong to the most beautiful , but also to the most expensive parts of Hamburg. In contrast to Eppendorf or Winterhude this area is more quiet. Especially flats in old buildings are rare and therefore expensiv.
Apartments with a high level equipment can be rented here as of € 12,- per square metre, but many apartments cost also about € 17,-.The same can be said about Eppendorf that has developed from a scene part to a preferred living area for creative people with a very good salary and for managers. Here life pulsates. There is a big amount of pubs, bars, restaurants and many different shops. Normally you would not need a car here. The part Winterhude can offer almost the same environment, but the level of rents is a little bit lower.
In Uhlenhorst living is again more quiet, the level of rents depends, in this part, as in St. Georg, on the location. Because of the nearness to the main station, St. Georg has to fight the environment depending crime. Nevertheless, this area convinces many young couples and singles with its special atmosphere. Concerning 2-4 room apartments the renting offer is sufficient in these parts, but because of the high demand it is not easy to find a nice old building. Large flats are rare, houses or flats with a garden normally are not offered. Another problem is the lack of parking spaces in the most of the city areas.
For families the Northern parts Poppenbüttel, Hummelsbüttel and Wellingsbüttel, Sasel and Volksdorf as well as the so called “Walddörfer” (Wohldorf-Ohlstedt, Duvenstedt, Lemsahl-Mellingstedt, Bergstedt) are suitable as interesting living areas. These parts of the city are pure living districts and more and more young families are looking for them. The rents begin at about € 9,- and can rise up to € 16,- depending on the location. We must mention that driving into the city centre especially from the “Walddörfer” can mean an immense time spending (45-60 min.) during the rush hours.
A new project of city-planning is HafenCity Hamburg where the old harbourquarters of Hamburg are built on with offices, hotels, shops, official buildings and residential areas. When completely developed it will be home to about 12.000 people and the workplace of 40.000 people mostly in office complexes. The prospect for completion is not very clear but will probably be around 2020-2030. The rents are quite expensive: € 20 and more per square meter are not unusually (more information visit http://www.hafencity.com/en/home.html).