Purchase prices for new condominiums in Hamburg are dropping


In the city of Hamburg, purchase prices for new condominiums declined in September compared to the previous year by 0.9 % to now €5,809/sqm. A minimal decrease (-0.2 % to 5,380 €/sqm) was recorded in the greater Hamburg area as well. Particularly large price reductions in Altona and Eimsbüttel contributed to the drop, Project Immobilien writes in its current housing market report. The largest price increase in German metropolitan cities was recorded in Düsseldorf at +23.6 % to 6,540 €/sqm. The region around Düsseldorf saw a plus of 13 % to 5,380 €/sqm, due in part to decreasing construction activity. Further results: Frankfurt also saw a substantial plus within the city (+13.3 % to 6,923 €/sqm), the highest prices were still found in Munich, followed closely by Hamburg and Berlin.

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