LBS actual property research: “We are observing price corrections after an overheated phase” | EUROtoday

Get real time updates directly on you device, subscribe now.

Hamburg LBS actual property research

“We are seeing price corrections after an overheated phase”

View of balconies of residential buildings in the center of Altona - only the prices for new apartments increased View of balconies of residential buildings in the center of Altona - only the prices for new apartments increased

View of balconies of residential buildings within the heart of Altona – solely the costs for brand spanking new residences elevated

Source: dpa

You can take heed to our WELT podcasts right here

In order to show embedded content material, your revocable consent to the transmission and processing of non-public information is important, because the suppliers of the embedded content material require this consent as third get together suppliers [In diesem Zusammenhang können auch Nutzungsprofile (u.a. auf Basis von Cookie-IDs) gebildet und angereichert werden, auch außerhalb des EWR]. By setting the swap to “on”, you conform to this (revocable at any time). This additionally contains your consent to the switch of sure private information to 3rd nations, together with the USA, in accordance with Art. 49 (1) (a) GDPR. You can discover extra details about this. You can revoke your consent at any time utilizing the swap and privateness on the backside of the web page.

Hamburg stays a well-liked place to stay – however actual property costs are falling barely on common. Newly constructed residences are an exception.

IReal property in Hamburg and the encircling communities in Lower Saxony and Schleswig-Holstein have change into barely cheaper on common over the previous 12 months. “In the current study, we are observing price corrections in line with the market after an overheated phase,” mentioned Jens Grelle, board member of LBS Landesbausparkasse Nordost, on Wednesday on the presentation of the LBS Real Estate Market Atlas Hamburg and Surrounding Areas 2023.

additionally learn

Title from the second row

According to the research, common costs for residential properties have fallen by 3.7 to 10.7 p.c for the reason that starting of 2023, relying on the kind of property. Both new buildings and present properties grew to become considerably cheaper within the Hanseatic metropolis and the higher Hamburg space. Only for brand spanking new residences in Hamburg was a slight enhance of two.4 p.c recorded.

The LBS research confirmed a pointy enhance in costs, particularly within the two Corona years 2021 and 2022. In 2023 the market already appeared to be altering considerably. Grelle identified that the worth degree within the area stays excessive. “Especially when there is little equity available, many people have to make very careful calculations when purchasing real estate,” he mentioned.

additionally learn

Rolf Ulrich Dobelli is a Swiss writer and entrepreneur
The artwork of the depressing life

Price developments differ significantly throughout districts, and the worth vary is giant. At the start of 2024, the typical value to pay for present homes with 120 sq. meters of dwelling area in Hamburg was between round 335,000 euros in Neuenfelde and virtually 1.9 million euros in Harvestehude. Depending on the district, events needed to calculate a median of 267,520 euros (Eißendorf) to 966,000 euros (Hafencity) for an 80 sq. meter present house.

additionally learn

The misunderstanding that partners pay taxes like spouses is particularly expensive

Prices within the Hamburg space have additionally fallen in comparison with the start of 2023. Existing homes price a median of three,161 euros per sq. meter (minus 10.7 p.c) and present residences price 3,064 euros per sq. meter (-9.6 p.c). The highest surrounding costs for present homes are presently in Wentorf/Aumühle with a median worth of 4,522 euros/sq. meter. As final 12 months, Ahrensburg once more took first place on the worth rating scale for present residences within the Schleswig-Holstein space with 3,773 euros per sq. meter.