Selling underground parking: value, broker and procedure

Let’s start with one of the most important questions for first-time sellers: What is my underground garage worth? After the 3 central factors, you will find all the steps of the real estate sale, which are also relevant for you and the sale of your underground car park, from documents, to the broker question, to the purchase contract and handover.

Let’s start with the 3 most important value factors:

1. Location (city, district and street)
2. Condition of the underground parking
3. Short-term, long-term tenants / vacancies

Location: city, street and fluctuation

The better the location of your underground parking garage, the easier it will be to rent out the parking spaces to long-term and / or short-term parkers at a later date. In order to keep the vacancy rate as low as possible, the first step in the valuation is to take a look at the location.

Situation in the valuation (current and perspective):

• Macro perspective – In which city do you sell?
• Mesoperspective – Which district?
• Micro perspective – Which street and house number?

Regardless of whether it’s a small town, medium-sized city or metropolitan area, there are more and more cars in city centers every year. The higher the fluctuation and the fewer the competing offers at the location, the better – also for the investors’ return.

The next step is for buyers (important to know their perspective) to evaluate the condition of your underground parking garage.

Condition of your underground parking

Very few investors want to undertake an extensive underground garage renovation. Of course, there is a certain percentage who want to buy very, very cheaply and are therefore looking for old or poorly maintained properties. The condition plays the central role in the evaluation of your underground car park, in addition to the location.

For a concrete evaluation, it is necessary to determine the actual state and the target state.

Typical shortcomings of the first decades are:

• Underground garage floor
• Floor coatings
• Concrete repair
• Crack sealing
• Waterproofing the ceilings
• …

Sometimes it is also redevelopment backlog, for example, due to disputes about redevelopment of the owners’ association.

Important in advance, it is only an example:

The maintenance costs for parking garages fluctuate massively depending on the condition

Very old underground parking: 40+ years old

Here’s an example, a really old underground garage, with about 100 parking spaces:

Let’s say the underground parking garage is now 40, 50 years old and really at the end of its rope and getting on in years. Conversion and renovation costs are therefore unavoidable for the new underground garage owner.

Per parking space of the underground garage you can count in something with ~ 6,000 euros (as a total project), with 100 parking spaces size.

The retrofitting of an underground parking garage floor alone would cost about 1.4 million euros. To this must be added the renovation of the concrete, round about 1.1 million euros.

Next, we take a look at the waterproofing of the underground parking garage ceiling. For the new insulation against dripping water, you can expect another 0.5 million euros (source: DZ Online). The items will be smaller, but in total not insignificant. In addition, smoke extraction, ventilation or even the renewal of the electrical installation, also to be able to take increasing markets, such as the increasing electric cars in the inner cities and residential areas.

Short-term, long-term tenants / vacancies

In addition to short-term tenants on site, the assessment also looks at long-term tenants and vacancies. In the end, the evaluation is therefore based on short-term/long-term tenants and the possible future potential (refurbishment, development, marketing) of the parking garage.

Long-term leases are of course the ideal case and vacancies the opposite. So that the valuation is realistic and so that later interested parties have an overview, information from your tenants is collected. In addition, there are many smaller parameters, in good A-locations, for example, also the commercial space rental for advertising (driveway, parking areas and facades).

Thus you have 3 central factors of the value determination:

1. Location (city, district and street)
2. Condition of the underground parking
3. Short-term, long-term tenants / vacancies

Step by step: checklist sale

Sales of underground garages are much more specialized than the simple sale of a parking space, parking lot or a single garage. Many underground garages are also not sold through real estate portals, but through personal networks, often by good and experienced real estate agents.

Nevertheless, it is important to know for the sale so that you can prepare well and also find an experienced real estate agent.

Preparation: broker, documents and valuation

The most important things about preparing real estate and sale.

• Financial planning and timing of sale
• Hire real estate agent
• Records and documents
• Increase real estate value
• Determine offer price
• Create exposé

Sales phase: networking and negotiation

The second phase is about marketing your property to find buyers and investors with sufficient creditworthiness.

• Market real estate
• Contact with prospective buyers
• Filter and select prospective buyers
• Credit check
• Viewing dates
• Sales talk & purchase price negotiation

Sales processing: complete transfer

From the purchase contract to the handover.

• Draw up purchase contract with notary
• Notary appointment
• Land register entry and payment processing
• Handover of the property
• Notary fees & broker commission
• Pay taxes

Partial ownership underground parking: Single parking space?

Lastly, on the smallest unit: Can you sell an underground parking space individually? The individual sale of underground parking spaces is possible. However, it depends on whether it is subject to special ownership or a special right of use. The difference is, if you have a parking space with its own land register sheet (special property), the sale is simple. In the case of a special right of use that belongs to a condominium, the special right of use can only be sold to another co-owner.

Here you can find more about the individual sale of parking spaces in an underground garage:

• Sell pitch

Location, location, location! Real estate market

Parking spaces are scarce in many hotspots in Germany. That’s why the first piece of good news is that you can sell your parking garage at a realistic price. Because last year alone, there were 2.92 million new passenger car registrations. According to the Federal Motor Transport Authority ( KBA ), the vehicle population in Germany increased by a full 1.1 million vehicles compared to the previous year’s reporting date to approximately 66.9 million vehicles registered in Germany, a full +1.6%.

66.9 million registered vehicles in Germany

With the right buyer and investor network, typically through experienced brokers with successful deals, you will have your underground parking garage sold relatively quickly.

Here’s another special look at general real estate sales in the larger cities:

• Berlin
• Düsseldorf
• Frankfurt
• Hamburg
• Cologne
• Munich
• Stuttgart

Sell parking garage: valuation to broker

First, let’s start with one of the most important questions for first-time sellers: what is your parking garage worth?

After the 3 important factors, you will then find all the steps of the sale, from documents, to the broker question, to the purchase contract and handover.

Let’s start with the 3 most important value factors:

• Location (city, district and street)
• Parking garage condition
• Tenant / Vacancy

Location from parking garage: Perspective

The better the location of your parking garage, the easier it will be to rent it out later to short-term and long-term tenants or parking ends. To keep the vacancy rate as low as possible, the first step in the valuation process is to take a close look at the location.

Situation in the valuation (current and development):

• The macro perspective – Which city?
• The meso perspective – Which district?
• The micro perspective – street and house number?

Whether small town, medium-sized cities or metropolitan areas, every year there are more and more cars in the city centers – also seen later in the example on the real estate market in Germany. The higher the local fluctuation and the lower the competitive offers here at the location, the better for your sales success, but also for the investors’ return.

Accordingly, the development of the location also plays a role.

The second important issue: the condition of your parking garage.

Condition of the parking garage: redevelopment

Very few buyers and investors want to put a lot of work into the new property, you want to earn a direct return. For you, but also for those who gladly accept some work, for a cheaper purchase price, the current condition counts after the location (macro / meso / mirco).

Irrelevant for relatively new parking garages, important for old ones. Here is an insight for you, especially first-time sellers, how high the refurbishment costs can be for such a project.

Typical shortcomings of the first decades are:

• Carbonate remediation (by carbon dioxide and sulfur dioxide)
• Floor coatings
• Concrete repair
• Crack sealing
• Waterproofing the ceilings
• …

Important in advance, it is only an example:

The maintenance costs for parking garages vary massively, depending on the condition

Very old parking garage: cost example (100 parking spaces)

Let’s say it’s a really old parking garage, with 100 spaces:

Let’s say the parking garage is 40, 50 years old and really at the end of its rope. Conversion and renovation costs are unavoidable. If we roughly calculate with ~ 100 parking spaces, you can expect ~ 6,000 euros per parking space (as a total project).

Just upgrading the floor of a parking garage would cost about 1.4 million euros. Then there is the rehabilitation of the concrete, round about 1.1 million euros. Next, we take a look at the waterproofing of the parking garage ceiling. For the new insulation against dripping water, you can expect another 0.5 million euros (source: DZ Online). The items will be smaller, but in total not insignificant. In addition, smoke extraction, ventilation or even the renewal of the electrical installation, also to be able to take increasing markets, such as the increasing electric cars in the inner cities and residential areas.

Tenants (long-term/short-term) and vacancies

Also a clear difference, existing leases. Especially if the parking garage is not located in a busy city center where the residential complex, but in special places, for example, measuring facilities, airports or even something else outside.

Apart from short-term tenants and fluctuation at the location, a look at long-term tenants and vacancies also counts. In the end, it is the tenants and the potential of the parking garage that are important in the initial evaluation.

Long-term leases are, of course, the ideal case. Accordingly, vacancies are the opposite. In order for prospective buyers to have an overview and for the valuation to be realistic, information on the tenants is required.

In addition, there are many smaller parameters, in good A-locations, for example, commercial space rental for advertising (driveway, parking areas and facades).

These are the 3 central factors of the evaluation:

• Location (city, district and street)
• Parking garage condition
• Tenant / Vacancy

Regular sale step by step

Sales of parking garages are much more specialized and extensive than the simple sale of a parking space, parking lot or a single garage in a residential development.

The majority of parking garages are not sold through real estate portals, but through personal networks, often by good and experienced real estate agents.

Nevertheless, it is important to know for the sale so that you can prepare well and also find an experienced real estate agent to sell your parking garage.

Preparation: broker, documents and valuation

How to prepare your property and the sale.

• Financial planning and timing of sale
• Hire real estate agent
• Records and documents
• Increase real estate value
• Determine offer price
• Create exposé

Sales phase: networking and negotiation

The second phase is about marketing your property to find buyers and investors with sufficient creditworthiness.

• Market real estate
• Contact with prospective buyers
• Filter and select prospective buyers
• Credit check
• Viewing dates
• Sales talk & purchase price negotiation

Sales processing: complete transfer

From the purchase contract to the handover.

• Draw up purchase contract with notary
• Notary appointment
• Land register entry and payment processing
• Handover of the property
• Notary fees & broker commission
• Pay taxes

Partial ownership of parking garage: single parking space?

Finally, the smallest unit:

Can you (as a part owner) sell a parking space individually? The individual sale of parking spaces is possible. However, it depends on whether it is subject to special ownership or a special right of use. As a rule, above-ground parking spaces are a special right of use, so a sale requires the consent of the entire owners, unless otherwise stipulated in the partition agreement.

Here you can find more about the individual sale of parking spaces in a parking garage:

• Sell parking space

Location, location, location! Real estate market

Parking spaces are scarce in many hotspots in Germany. That’s why the first piece of good news is that you can sell your parking garage at a realistic price. Because last year alone, there were 2.92 million new passenger car registrations. According to the Federal Motor Transport Authority ( KBA ), the vehicle population in Germany increased by a full 1.1 million vehicles compared to the previous year’s reporting date to approximately 66.9 million vehicles registered in Germany, a full +1.6%.

66.9 million registered vehicles in Germany

With the right buyer and investor network, typically through experienced brokers with successful deals, you will have your underground parking garage sold relatively quickly.

Discreet, anonymous selling: shopping mall

You are probably looking for a reputable office or a real estate agent that will put your shopping center on the market discreetly and anonymously.

Do you want everyone to know about the sale and your asset growth?

Selling anonymously means selling off market, with a specialist estate agency.

This means that in the off market you specifically address private investors and buyers, well-known families, their family offices, real estate funds in Germany and abroad. Depending on the group of buyers or the specific buyer for whom the special offer is most interesting.

In the very first step, only one person learns about the sale. The majority of properties are sold immediately, discreetly and anonymously, without any other person or institution knowing about it. The basis for this is of course always a solid valuation.

Creditworthiness, financial proof, purchase offer, all this is often available within 14 to 30 days.

Thus, we act as a real estate agency quite differently than the classic real estate agent, through which otherwise typical condominiums, townhouses and single-family homes are sold.

With us, marketing does not go broad, but extremely specific to individuals who are known from the personal network.

This extremely accelerates the sale of real estate. Especially due to the shortage of supply. This exclusivity also allows new leeway in negotiations.

Location, location, location: A, B or C

Location is what counts when selling real estate. Of course, this also applies to shopping centres. Therefore, a property valuation is not as simple and typical as it would be for a house or apartment building.

Other factors also play a role in the sale of shopping malls. For example, a central and important value factor for the property is the development and forecast for the location, in micro-location and macro-location. What opportunities does the location offer as it is and if it is further developed?

Initial Value Factors:

• Location, substance, figures and letting
• Development / forecast for microlocation
• Development / forecast for macro location

Tip. Value factor underground parking.

Underground, above ground, there are a few factors to consider besides the property and the substance.

Accordingly, the asking price is not calculated as usual from the factors: location, size and layout. Forecasts for the future are also a value factor for shopping centres. Of course, as well as the current tenant situation, existing contracts and so on.

Accordingly, the sale is more complex in the whole subject.

Selling real estate: 1×1 for sellers

For all those selling your first property, for example through an impromptu inheritance, here’s another article that summarizes selling real estate in simple steps.

Procedure, controls and errors…

How does a real estate sale typically go? If you own a shopping center, you’re usually familiar with trading real estate. But sometimes it comes unexpectedly, as through a real estate inheritance.

Not everyone anticipates the death of a loved one in advance, sometimes even an unknown person. If there is no direct descendant, many choose the children of siblings, or closer relatives.

Real estate sale in detail

First-time sellers have many, basic questions:

• What is the process for selling real estate?
• What do you start with, what do you need?
• How long does it take?
• Who is the right contact person?

For all these questions and of course much more, e.g. mistakes when selling real estate but also the taxes that come to you as a seller, we have answers here. Read our big guide on the subject:

• Real estate sale: procedure, taxes and mistakes

Sell commercial property

This little guide is a bit more advanced. Here you will learn a few more basics about commercial real estate and of course various aspects of the sale.

• Sell commercial property

Selling land: Agricultural land, meadow, acre & Co.

You may have already read our great guide on selling land, or perhaps you have read more specific guides, for example on selling woodland land.

For those who are dealing with the matter of land sale for the first time, the question surely arises:

• How do I sell my agricultural land?
• Which step do I start with?
• Who advises me, prepares expert opinions & Co.

Here are a few pointers for selling farmland, agricultural land and other, more specific land. You can also read more about the process, mistakes and risks, as well as taxes when selling land.

Sell privately or with a professional?

The question is answered relatively quickly. There are various parameters that influence the selling price. These include, for example, the property valuation, as well as a solid and capital-strong buyer network, but also negotiating skills. After all, it is not “only” about a condominium, but about more complex, agricultural usable areas, with all the addition around soil expertise, forecasts and development possibilities.

Minimize effort, maximize profit

Selling agricultural land privately, for example through real estate portals, not the best idea.

1. What do you do with all the requests?
2. What documents, papers and expert opinions do you need?
3. Who sends info and makes phone calls for questions?
4. Who really has the credit rating and willingness to buy?
5. How many surveys do you want / need to do?
6. Who prepares and conducts the negotiations?
7. …

From credit rating (creditworthiness) to viewing appointments and negotiations: Time is money. Therefore, in this country 70% + sell with the help of professionals, such as an estate agent.

Sell privately?! Risk private sale

Time is of the essence. If you are not under pressure to sell, excellent. Then you may be able to make a mistake or two. But who wants to do that? Here is a recent example of a client who wanted to sell his property in Berlin. Private.

Example of agricultural land in the Berlin hinterland

Here is an example of a client who approached us, a typical case. It was an area in the Berlin area that was to be sold. The mistake in brief: private sale without sufficient credit check or financing confirmation from a bank. The result: months of delay and abandonment.

The seller has advertised privately on a known portal. Promptly came many messages, but almost all conversations ran into the void. Weeks passed.

Error: Insufficient creditworthiness and verification

After months, finally found a person who had the will and the credit rating – supposedly. So after the site visit talk about checking the financing, by the buyer’s bank and wait. Again, a few weeks pass.

Then you get after further weeks a feedback from the buyer and/or prospective customer that the financing was rejected with the first bank, therefore now with a second house bank one inquires. You wait.

After another few weeks passed, he still had no confirmation of financing from a bank, no preliminary purchase agreement, and no notary appointment.

Conclusion – pressure and frustration:

Suddenly there is more and more pressure to sell, and at the same time frustration rises.

You wouldn’t believe how many private sellers have this exact story happen to them.

That’s why over 2/3 of the properties are sold with professionals on the side (brokers and the like).

Professional land trading for agricultural land

Preparation is the key so that you do not lose months in the sale of A and B locations, and even years in C locations.

Preparation is the key: even with agricultural land

However, the work starts much earlier, which is another reason why working with a broker is advantageous.

Tip on the broker’s commission! Privately, the law currently provides that 50/50 is shared (buyer, seller). In commercial trade you can also put 100% on the buyer.

So, in principle, in the commercial trade it does not even cost you money. For this you get the network when it comes to a reputable real estate dealer.

• What documents and papers do you need?
• Which groups of buyers are you addressing with this particular property?
• Do you want everyone to know you want to sell your farmland?
• Should everyone know the value (your asset growth)?

Discretion: neighbours, envy and competition

In addition to the time factor (= money), for many sellers of agricultural land is also important that your property is made discreet, anonymous. From competition in the region to family, the neighbors or even receiving large sums of money. There are several reasons why a majority of sellers want to sell anonymously and discreetly.

Personal network: buyers and investors

Professional property trading looks quite different, of course. Here it is not about marketing in real estate portals, personal buyers are adressed, investors, funds but also foreign investors groups.

Investors from abroad: Profitable business

Foreign investors for a farmland? Yes! Many are looking for good returns and capital investment in this country. Due to the attractive returns in this country, but also the good soil quality and water quality (groundwater and water sources) in general, there are also very many investors from near and far abroad looking for land.

The big advantage for you as a seller, here the money sits a little looser than in the country – simply said.

Central for this is of course again a renowned real estate agency.

Exclusive is fast: supply and demand

Another strong advantage for you on the seller side:

Deals are being closed much faster.

Why? The properties are traded exclusively and the offers are made only to individuals. This exclusivity ensures the scarcity of supply and thus increases the demand on the customer side.

Time is money! Especially wealthy customers do not want to waste time

Wasting time, in which, for example, several interested parties are at one property. Business should be done quickly.

Find a real estate agent: Renowned office or from the region?

Therefore, consider working with a regional real estate agent who does what everyone does: Posting your farmland widely on all real estate portals. After that, hundreds of people will write, there will be many conversations, emails, plus phone calls. Very much time passes, few really have the creditworthiness, the will, as described before.

The process of finding a farmland takes months, sometimes even years.

Time is money! Addressing investors

Here is another psychological aspect that gives you advantages in off market trading:

When professional investors or their employees see that properties are listed on real estate portals, the question immediately arises: Why? Why has the property not found a buyer? No one would even continue to deal with this object. After all, there are thousands of advertisements. Who is supposed to see through all of them?

Family offices, real estate funds, etc.

Family offices, real estate funds and others therefore speak directly with renowned real estate offices and have only exclusive properties presented to them. Then everything goes very quickly.

In the off-market area, you will find the big family names, i.e. family offices, real estate funds, other institutions, which are approached individually and specifically, depending on the purchase profile.

This is all called off market trading.

Selling farmland: Procedure, taxes and tips

Would you like to learn more about selling agricultural land? Then take a look at our detailed guide on the subject of selling land. Here we talk about the concrete procedure, in all the individual phases of the sales process. You will learn more about the typical mistakes that are made when selling and of course everything about taxes when selling land.

• Sell land

Agricultural land / field with spring?

Selling a water well – appraisals, brokers, negotiations, process and taxes, there are also many questions when selling a water well. Is now the right time for you to sell? And if so, what is the most effective way to sell? Water is a scarce resource. Even though over 71% of our planet’s surface is water, there are fewer and fewer productive, clean water sources. Low supply, high demand: don’t just think regional buyers, think mutual funds and yes, food companies too. For that, you need a broker with an exclusive network. Whether a sole proprietor or a water cooperative, learn about the matter of selling here.

• Sell field with spring

Hamburg most expensive streets: Große Elbstraße to Schöne Aussicht

Strong economy, sea air, international orientation – all this makes Hamburg in the north of Germany. Hamburg has its very own charm, shaped by its unique history, maritime shipping and the many international residents from all corners of Europe. It is not only home to families, students and entrepreneurs, but also to famous faces from the worlds of film, television, music and sport. This, of course, makes the Hanseatic city’s real estate market particularly attractive. So anyone who owns a property in Hamburg can consider themselves very lucky.

Overview: Most expensive streets in Hamburg and location summarized

Before we want to go into the most expensive streets in Hamburg with information such as location and prices per square meter: Here is an overview of the most expensive streets with the associated district. The purchase prices for real estate here range on average between 10,000 and 16,000 euros per square metre.

• Am Kaiserkai – HafenCity
• Mittelweg – Harvestehude
• Strandkai – HafenCity
• Bellevue – Winterhude
• Elbchaussee – Elbvororte
• Große Elbstraße – Port edge
• Harvestehuder Weg – Harvestehude
• Beautiful view – Uhlenhorst

Am Kaiserkai: HafenCity Hamburg

Am Kaiserkai is like most expensive streets in Hamburg in the immediate vicinity of the Elbe. Located in the modern HafenCity, Kaiserkai borders directly on the equally expensive Strandkai district. The good 500m long street is lined with innovative modern real estate on both sides and right behind the buildings you step onto the banks of the Elbe on both sides. To one side the Gradbrookhafen and to the other side the Sandtorhafen the street at the Kaiserkai is surrounded on both sides by the Elbe.

The price per square meter here is up to:

Maximum prices up to 12.000 € / m²

Here in the street Am Kaiserkai you will find top adresses like:

• McKinsey
• Elbphilharmonie

Am Kaiserkai in Hamburg (Map):

Mittelweg: Buying property in Harvestehude

Mittelweg in Hamburg stretches for just under 2km parallel to the Außenalster lake in the popular Hamburg Harvestehude district. The proximity to the banks of the Alster and Alsterpark, as well as the immediate vicinity of the university campus in Rotherbaum, make Mittelweg a particularly popular area. Eichenpark and Bolivarpark, as well as the tennis stadium, can also be reached from Mittelweg within a very short time. Anyone wishing to live here or buy a property should expect to pay around €10,000 per square metre.

The price per square meter here is up to:

Maximum prices up to 10.000 € / m²

Here in Mittelweg you will find top adresses like:

• University for Music and Theatre
• Park Planten and Blomen

Mittelweg in Hamburg (map):

Strandkai: Living near Elbphilharmonie & HafenCity

Strandkai is more of a small district than an actual street and is located directly in the modern and hip HafenCity district in Hamburg. In the immediate vicinity you will find architectural highlights such as the Elbphilharmonie Concert Hall or the unique luxury residential tower The Crown. With its direct location on the North Elbe, Strandkai is an absolute prime location that is extremely popular with private and business investors. Hence the high prices: For real estate on Strandkai, one must expect a purchase price of approximately 12,000 euros per square meter.

The price per square meter here is up to:

Maximum prices up to 12.000 € / m²

Here at Strandkai you will find top adresses like:

• Hamburg beach harbour
• Unilever
• Marco Polo Tower

Strandkai in Hamburg (map):

Bellevue: Exclusive living directly on the Alster lake

The street Bellevue is located in the popular Hamburg district of Winterhude and, like many of the most expensive streets in Hamburg, is situated directly on the Außenalster. The just under 1km long street in the north of Hamburg is in direct proximity to other exquisite Hanseatic residential locations such as the street Schöne Aussicht or even Harvestehuder Weg on the other side of the Alster. The quiet and directly on the banks of the Alster located properties offer extreme proximity to nature and water and are therefore quite expensive. When buying a property here, you should expect a purchase price of around €12,000 per square metre.

The price per square meter here is up to:

Maximum prices up to 12.000 € / m²

Here in the street Bellevue you will find top adresses like:

• Remote View Bridge
• Sylt Bohemia

Bellevue in Hamburg (Map):

Elbchaussee: Elbvororte with dreamlike real estate

The Elbchaussee is with a length of about 9km one of the longest streets in Hamburg. It leads to a large part along the banks of the Elbe, for example also along the Elbstrand. It also passes the Hirschpark, the Rosengarten and the Heinepark and ends at one end at the Altona fish market. The Elbchaussee runs through the districts of Altona, Othmarschen, Nienstedten and Dockenhuden and borders on Blankenese. Due to its location, the Elbchaussee is one of the most popular and therefore most expensive streets in Hamburg. Anyone wishing to sell or buy a property in Hamburg can expect to pay around 12,000 euros per square metre.

The price per square meter here is up to:

Maximum prices up to 12.000 € / m²

Here in the Elbchaussee you will find top adresses like:

• Elbe Beach
• Altona Park
• Beach pearl Hamburg
• Museum harbour

Elbchaussee in Hamburg (map):

Große Elbstraße: Real estate located on the edge of the harbour

The Große Elbstraße is a real prime location in the Hanseatic city. The immediate proximity to the Alster and the Altona fish market make the Große Elbstraße one of the most popular and, above all, most expensive streets in Hamburg. Located in the popular districts of Ottensen and Altona-Altstadt, Große Elbstraße stretches for almost 2km along the Elbe. Lined on one side by many parking areas and on the other by the banks of the Elbe, Große Elbstraße runs through residential properties, offices and restaurants. The lookout point at Dockland can also be found here, as well as the ferry pier “Altona (Fischmarkt)”. Property prices here are around €15,000 per square metre.

The price per square meter here is up to:

Maximum prices up to 15.000 € / m²

Here in the Große Elbstraße you will find top adresses like:

• Hamburg Cruise Center
• Fish Market
• Opera loft in the old ferry terminal

Große Elbstraße in Hamburg (map):

Harvestehuder Weg: Most expensive street in Hamburg

Enclosed by the Aussen-Alster and the Isebekanal is the district Harvestehude in the district Eimsbüttel. Harvestehuder Weg is also located here, which runs along the banks of the Alster and Alsterpark for a distance of around 1.5 km. Property prices here are up to around €16,000 per square metre. This makes Harvestehuder Weg currently the most expensive street in the whole of Hamburg. This is one of the most popular areas of Hamburg, as another expensive street – Mittelweg – runs directly parallel to Harvestehuder Weg.

The price per square meter here is up to:

Maximum prices up to 16.000 € / m²

Here in Harvestehuder Weg you will find top adresses like:

• University for Music and Theatre
• JOOP! showroom Hamburg

Harvestehuder Weg in Hamburg (map):

Beautiful view: Exclusive residential area

Schöne Aussicht is also one of the most expensive streets in Hamburg and runs directly along the banks of the Außenalster – so the name says it all! Green banks of the Alster and a panorama of the opposite side of the Alster make this street particularly idyllic, and in addition to event locations, exclusive properties can also be found here. Modern and historic properties with partly large garden plots and a view of the Outer Alster stretch for almost 1 km. You should calculate here with a purchase price of about 12,000 euros per square metre,

Incidentally, two other very exclusive locations in Hamburg, Mittelweg and Harvestehuder Weg run along the opposite bank of the Außenalster in the immediate vicinity. Uhlenhorst and Harvestehude are thus among the most expensive and popular districts in Hamburg.

The price per square meter here is up to:

Maximum prices up to 12.000 € / m²

Here in the street Schöne Aussicht you will find top adresses like:

• Senate Guest House
• Alsterpark

Beautiful view in Hamburg (Map):

Tips & Tricks Real Estate Hamburg: Live or sell

Whether you are looking for a new place to live or want to sell your own property, Hamburg’s real estate market is highly competitive and demands caution and prudence from all parties. In the following articles you will find more information on popular districts, living in Hamburg, as well as on the topic of selling property in Hamburg.

Selling real estate Hamburg: Real estate market, standard of living & Co.

More and more people want to live in the Nordic metropolis of Hamburg. The high standard of living, the flourishing economy and the diverse real estate market make the city an attractive place to live. And the individual districts also have a lot to offer. While Othmarschen and Rotherbaum impress with their historical charm, the residential areas of Blankensee and Rissen inspire 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 – Welcome to Hamburg! Click here to go back to the overview: Real Estate Hamburg.

• Sell real estate Hamburg

Living in Hamburg: Popular districts, catchment areas and more

The Hanseatic city, Germany’s pearl in the north, is full of life and forms a centre for business and lifestyle. This attracts people, as has also been shown recently, because Hamburg could record a population growth of more than 7% within 6 years. Of course, more people also demand more living space, which is why we will introduce you to the most exclusive and beautiful residential areas here, so that you can definitely find a property that meets your requirements. You can also find an overview here: Real Estate Hamburg.

• Living in Hamburg