Selling real estate in Hamburg-Harvestehude – selling an apartment, a multi-family house or your own property. The genteel district of Harvestehude is in no way inferior to the other popular suburbs of Hamburg, such as Rotherbaum, Blankensee and Hafen City! Do you have an apartment building in Hamburg? And you want to sell it? Then you should read the following tips and texts carefully! Harvestehude is one of the most distinguished districts of the city and benefits from a pleasant cityscape with many parks and green spaces. Currently, around 17,900 residents enjoy the city life with Harvestehude’s high quality of life and living. Find out here everything you need to know about selling a house, property valuation & Co! Back to: Selling real estate in Hamburg.
Hamburg-Harvestehude: A distinguished district in transition
Hamburg is the second largest city in Germany and, as a Hanseatic city, a popular place for many people to move to. Nearby are other major cities such as Bremen or Lübeck. The economy is stable, the job market is booming and the cultural diversity paired with the cool flair of the north makes the unique charm of the Hanseatic city. Apartment buildings and villas characterise the cityscape and make the district an urban area with a high quality of life.
District: map and location
Enclosed by the Aussen-Alster and the Isebekanal, the district is located in the Eimsbüttel district and is the neighbour of the Grindel and Schlump districts. The popular Rotherbaum district borders to the south and the sought-after Hafen City residential area is also not far away. And the most expensive streets in Hamburg are also at home here. No wonder, after all Harvestehude inspires families as well as singles and students.
Whether you’re looking for an elegant villa, a spacious detached house or an elegant maisonette, there’s a place for everyone in Harvestude.
See more here in Streetview:
Sell real estate: Apartment, house, apartment building
70% of all owners agree: the property should be sold at the best price and without a long wait. With the right real estate agent at your side, this is no problem. Thus, the trusted real estate agent not only supports you throughout the entire sales process and advises you on the topics of taxes and financing, but is also familiar with the different types of houses and apartments.
More on the topic of selling in Harvestude in a moment. Here is an overview in advance, with further information and tips:
One of the most important steps in selling real estate is the appraisal of the property:
Real estate valuation: Valuation for the sale of real estate
Year of construction, furnishings, renovations and also modernizations are reflected in the purchase price of the property. All these factors are taken into account in the valuation of the property. This is where a great deal of expertise is required. An unrealistic purchase price can not only unnecessarily drag out the sales process, but also scare off potential buyers or, in the worst case, even cost you money.
To make sure that doesn’t happen to you, learn more here:
Selling property in Harvestehude: With or without an estate agent?
You want to buy a property and are now in a hurry with your current property sale? Or you want to buy an apartment building in order to rent it out lucratively? Whatever the reasons, the property sale should be handled quickly and effectively. If you want to sell your property in Harvestehude, you are first faced with the question: “yourself or with an estate agent?” In fact, you should take your time to answer this first important question. Only when you have decided to work with a real estate expert will the question arise: who is the right agent for my property?
Real estate agent: advantages & tasks
Whether it’s an old apartment, a villa or a bungalow, many experienced home sellers say there’s a lot to be said for working with a real estate expert. Why is a property valuation so important? Where is your property most sensibly marketed? And what about taxes when selling real estate? These questions will be answered by your trusted real estate agent. An experienced real estate agent is also familiar with the real estate prices in Hamburg. Would you like to renovate and refurbish your property with the help of a craftsman and architect before selling it? Your real estate agent can also tell you whether and to what extent this will increase the value of the property.
Here is an overview of some of the benefits and tasks:
Knowledge of the local and regional real estate market
Knowing the best selling price
The professional appraisal of the property
The proper and sales-oriented preparation of sales documents
The organization and execution of the viewing appointments
The successful completion of the sales process with the notary public
On request also without participation of the seller
The fee is only paid after the sale
If you still prefer to act “on your own account”, you can of course take the sales process into your own hands without support. You can also be successful – but with a high investment of time and many risks.
Finding the “right” broker: Selection criteria
The job title “real estate agent” is not protected in Germany! Nevertheless, there are many criteria that help you to choose the right estate agent for you and your property. Just looking at the design and content of a homepage gives you a first indication of quality. Also very important are references to successfully completed sales transactions. The proof of profound knowledge especially of your market environment is also one of the important criteria when choosing the right real estate agent for you.
Here is an overview of the most important selection criteria:
Is the online presence serious and trustworthy?
Does the broker give you enough time to make your decision to work together?
Does the agent know the prices and developments of your real estate market demonstrably?
Has the agent sold reference properties that match your property type?
Is the broker intensively represented in relevant marketing portals?
Does the broker work with several different valuation methods and offer you a choice in this respect?
What do the broker’s exposés look like?
Does the broker have financial loss liability insurance?
Did the broker answer all your questions about the fee in a transparent way?
Do you find these arrangements appropriate in your contract?
Is the much-vaunted “chemistry” between you and the broker right?
Determining the value of real estate in Hamburg
Used real estate or land is determined according to the market value(fair market value). This is the price that could usually and fairly be achieved. The market value is therefore intended to reflect the market conditions as of the reporting date. The legislator has established three methods for its determination, which are used in the calculation. If you want to know the fair value of your property, however, you should not determine the price yourself, but contact an independent and qualified appraiser. Competent real estate agents will explain to you whether and what costs may arise in the process.
Apartment, plot of land & apartment building: Determine purchase price
For the sale of an apartment building, the capitalised earnings value method is generally used to determine the correct selling price of a property. Here, in addition to the standard land value of the property and the value of the building, the net annual cold rent to be earned is also included. Ultimately, this calculation is also the responsibility of an experienced real estate agent.
Because if the value is set too high, you complicate the chances of sale, in some cases considerably, and may suffer painful losses in the negotiations during the sales process. Should you possibly be the heir to a multi-family house and make fundamental errors in the valuation, you may incur losses through unnecessary tax payments.
If the purchase price is too high, interested parties are scared off, if the purchase price is too low, you give away money.
Determine the value of the property: Influencing Factors
Property type, infrastructure, equipment and surroundings. Many factors influence the valuation of the property and thus also the subsequent purchase price. The time of sale also plays an important role.
Here are some of the most important criteria that affect the value and therefore the selling price of your property:
Location
Infrastructure / Surroundings
Size
Equipment
State of development
Refurbishments / Refurbishment requirements
Tip! Find here even more info & tips around the topic of home appraisal.
Special case: residential building with commercial premises in Harvestehude
If your property in Harvestehude has part of the area available for commercial use, there are some special considerations to be taken into account when determining the value, presentation and sale! A responsible real estate agent has a lot of special knowledge ready for you, which you can access at any time. A first non-binding appointment is quickly arranged in this way – gladly also on site.
Key data: Sale of residential and commercial real estate
Whether upscale Harvestehude, lively Hafen City or chic Rotherbaum: For the sale of combined residential and commercial properties there are important key data and information to know. The points special market analysis, presentation of the property, an examination of the commercial shares and the tax regulations in the areas of speculation tax and trade tax, land transfer tax are of particular importance (Read more here: Taxes in Germany).
Special market analysis
The market analysis for the sale of real estate deals with the basic market conditions that are decisive for the respective type of real estate when determining the value and sale. In the case of residential and commercial properties, it is also important what type of business is located in the building or can be located there in the future. The market value can differ considerably depending on whether the house is a retail shop, a restaurant or an insurance office. A good real estate agent knows the respective submarkets very well and adjusts the marketing strategy to the individual market conditions.
The market analysis deals with the market conditions which are decisive for the valuation and sale.
Presentation of the property
When preparing the exposé for a residential and commercial building, every detail counts! In addition to first-class photos, these details include, above all, comprehensive information on the type of business, the facilities required for the safe operation of the business and the income figures resulting from the business. The ratio of commercial to residential space must also be stated precisely.
Here is all the information that belongs in the exposé:
Photos
Type of business
Necessary facilities
Earnings figures
Ratio of commercial and residential space
Examine commercial shares
For the buyer of your property, it is important to know how long the commercial lease will last and what renewal options exist. What options are there for increasing the rent, or what automatic mechanisms (indexation or similar) are the tenancy based on? In addition, all building permits for extensions and conversions of the residential and commercial building must be available and appropriately placed in the exposé.
Tax regulations
When you sell your multifamily home, income or speculation tax may kick in. Income or speculation tax is due if your house sale takes place within ten years of the purchase of the house. The speculation tax is subject to the individual tax rate and can be much more than 25 percent in individual cases. However, after the ten-year period, you can sell your apartment building tax-free.
Income or speculation tax is due if your home sale occurs within ten years of purchasing the home.
The speculation tax can be reduced: You can offset the costs incurred when selling your house against your proceeds. In this way, financial expenses for advertising, renovations or appraisals reduce the sales proceeds and thus also the tax portion. It is important to know that costs for renovations and repairs can only be offset if the measures took place in the first three years of ownership and, with the deduction of sales tax, were higher than 15% of the purchase price of your house.
Trade tax is incurred if you have sold more than three properties within five years. Above this three-property limit, the tax office assumes that you are trading in real estate on a commercial basis.
Business tax is due if you have sold more than three properties within five years.
Conclusion: Good times for real estate sales in Harvestehude
The time to sell a multi-family property is particularly favorable at the moment. Because the interest level is still low for the buyer. On the other hand, it is becoming apparent that the prices for real estate have reached their peak. Experts warn already before a real estate bubble. Certainly, properties in the immediate vicinity of the city centre are experiencing a more significant increase in value than in other parts of Hamburg.
The micro-location plays a noticeable role for the valuation and the chances of sale in Harvestehude. The type of building for sale is also very important. The pure apartment building is subject to different laws than the combined residential/commercial building. The use of an experienced estate agent is particularly recommended for sales success in such a differentiated market as Harvestehude.
Hamburg: Real estate in the Hanseatic City
Hamburg is the only metropolis in Germany that offers a port feeling. Every day, thousands of containers reach the city via the port facilities. That is why so many people are drawn to Hamburg. Not only is there a flourishing Hanseatic economy, Hamburg is also home to major media houses, advertising agencies and, of course, a correspondingly large number of real estate agents. Especially the Elbphilharmonie with its unique architecture stands for Hamburg.
Hamburg property market: Overview
Many apartments, lofts and penthouses offer unique views. Perfect for people who work a lot and therefore seek relaxation within their own four walls. Hamburg is not only the hub of the global economy, but with a high standard of living, impressive architecture, a diverse culture and a good geographical location, it also offers an attractive place to live for families, singles, couples or entrepreneurs and investors.
Living in Hamburg: Popular districts & residential areas
The Hanseatic city, Germany’s pearl in the north, is full of life and forms a centre for business and lifestyle. While the Elbe suburbs inspire with their proximity to the shore and the many villa districts, HafenCity and Speicherstadt enjoy great popularity due to their central location. Historic Harvestehude, culturally upscale Uhlenhorst and charming Winterhude are also among the most attractive places to live in the city. Find out all about the prices per square metre and properties in Hamburg’s most sought-after districts here. Read more here: Living in Hamburg.
While Othmarschen and Rotherbaum impress with their historic charm, the residential areas of Blankenese and Rissen delight with their views of the Elbe. And the modern Hafen City and the progressive Harvestehude also enjoy great popularity. Do you want to sell your apartment, your apartment building or your own property here? With our free guides on selling real estate in Munich, you’ll be well prepared. Plus: everything you need to know about property valuation, estate agents & the process. Click here for the overview: Selling real estate in Hamburg.
