Selling an apartment building in Hamburg: step by step

Let’s start with the most frequently asked question: How much is your apartment building in Hamburg actually worth? Then you will learn about all the steps of the sales process, right up to handing over the keys.

Determine the value of your apartment building

The value of your apartment building depends on various factors, including the property location, the size of the apartments and the condition of the property. An informed, market-oriented purchase price is crucial for a successful sale.

How to value an apartment building

The valuation of an apartment building is based on specific methods such as the comparative value method, the asset value method and the capitalized earnings value method. A combination of these methods provides a realistic market value.

At least two of these methods are usually used to determine an exact value.

• Valuate apartment building
• Typical evaluation procedures
• Free evaluation by experts

Selling in Hamburg: What to look out for?

When selling your apartment building in Hamburg, you should consider a few important aspects:

1. Location and property prices: The target group of buyers depends heavily on the location and current property prices.
2. Documents: Make sure that you have prepared all relevant documents such as floor plans, land register excerpts and tenant lists.
3. Good contacts or an estate agent: An experienced estate agent can help you to organize the sales process efficiently and to approach the right buyers.

Location and property prices: The buyer target group in Hamburg

Hamburg is a sought-after real estate market with high property prices. Whether Altona-Altstadt, Altona-Nord, Altona-Altstadt, Eimsbüttel, Hoheluft-West, Eppendorf, Rotherbaum, Sternschanze, St. Pauli or Harvestehude. The target group of potential buyers is looking for long-term investments and is prepared to pay corresponding prices.

You need to reach people who focus on long-term investments and do not need immediate cash flow.

Documents: Floor plans, land register excerpt, tenant lists, etc.

Before you start the sales process, make sure you have all the necessary documents for the property sale ready. This includes, among other things:

1. Land register extract
2. Parcel map
3. Building plans and building permits
4. Refurbishment status
5. Tenancy agreements and tenant list
6. Operating cost statements
7. Energy certificate
8. Status report or expert opinion

Good contacts or a good broker

As apartment buildings in Hamburg often fetch high prices, it is advisable to consult an experienced estate agent. An estate agent has the necessary contacts and can help you to approach the right buyers and achieve the best possible price.

Ultimately, it is always a personal question as to whether you want to sell with or without an estate agent.

Taxes when selling in Hamburg: What will you have to pay?

A quick look at the tax aspects of selling your apartment building in Hamburg:

1. Speculation tax: Sale within the speculation period is subject to tax.
2. 3-object rule in Hamburg.
3. Asset & share deals: differences in taxation depending on the sales structure.

Speculation tax: selling tax-free?

The speculation period is generally 10 years for rented properties. If you sell within this period, you must pay tax on the profits. After the period has expired, the sale is tax-free.

Further details on the 3-property rule and asset deals vs. share deals can be found in our article here.

Real estate & tax coaching

Do you need further support with the sale of your apartment building in Hamburg? We offer real estate and tax coaching by experts and investors. Contact us for more information:

• Real estate coaching
• Real estate tax coaching
• Contact us

Also discover our resources for real estate beginners:

• Real estate beginners

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Living in Hamburg: Elegant districts in the north of Germany

Hamburg is not only home to Germany’s largest port, but also to a large number of major companies, publishing houses and media agencies. The Hanseatic city impresses not only with its strong economy, international flair and growing job market, but also with its many chic districts. Whether family, single, student or entrepreneur – everyone feels at home in Hamburg.

Here is an overview of the most popular residential areas in Hamburg:

• Elbe suburbs
• HafenCity
• Harvestehude
• Speicherstadt
• Uhlenhorst
• Winterhude

Hamburg: Map & Location

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. Above all, the Elbphilharmonie with its unique architecture stands for Hamburg.

Overview of the most popular residential areas: Blankenese, Uhlenhorst, HafenCity & Co.

Population growth of 7% means that almost 113,000 more people live in the city than 6 years ago. This jump in population naturally demands more living space at the same time. But where are actually the most desirable residential areas? Which district is worthwhile for a real estate investment? And how high are the real estate prices in Hamburg? More about that in a moment!

Reading Tip! Learn more about the most sought-after streets in the Hanseatic city here: Hamburg – most expensive streets

First of all, here is a brief overview of the individual districts before we take a closer look at location, square metre prices & co.

Elbvororte: Luxurious suburbs on the banks of the river Elbe

Hamburg’s elegant Elbe suburbs include: Rissen, Blankenese, Isebrook, Nienstedten and Othmarschen. Magnificent villas and inviting detached houses are combined with proximity to golf clubs and beaches. Who can say no to that? The residents of the Elbe suburbs are proud of their beautiful countryside and the fast connections to the city centre. And those looking for suburban charm and an upscale lifestyle will find it here.

• Living in the Elbe suburbs

HafenCity: New city district in a class of its own

HafenCity has only been an official district of Hamburg since 2008. The construction project was launched in 2009 with the aim of finally making efficient use of former port areas. Otherwise, not only valuable living space but also places for culture and education would be lost. After almost a decade as a construction site, the new district could emerge in all its glory. With universities, new subway access, great restaurants, and luxurious apartments, the previously tired neighborhood shines more beautifuly than ever before. Here you can find especially modern real estate like an apartment or penthouse.

• Living in HafenCity

Harvestehude: Charming luxury district with flair

As one of the most historic districts, Harvestehude is in no way inferior to the other parts of the city. The location is prime, the cityscape is characterised by many old buildings and mansions, and the Outer Alster and the Isebek Canal are not far away. Thus, the unique charm of the district is reminiscent of the timeless elegance of the upscale society of the 19th century.

• Living in Harvestehude

Speicherstadt: Unique district with neo-Gothic brick buildings

The Speicherstadt has become known as the largest warehouse ensemble in the world. The district, built at the end of the 19th century, inspires not only by the unique cityscape characterized by the many neo-Gothic brick buildings of past decades, but also by the local canals, which can be easily explored by boat.

• Living in Speicherstadt

Uhlenhorst: Exclusive real estate with Alster view

Villas and townhouses in the middle of cafés and restaurants in every price range, that’s what Uhlenhorst offers. The district on the Alster is very popular, as it offers apartments and houses near the water and with a view of the rest of the city. Singles in particular will find a suitable apartment here, as long as they are willing to spend the necessary small change. Uhlenhorst is characterised by its fast pace of life and presents itself as fresh and young.

• Living in Uhlenhorst

Winterhude: Historic district with magnificent houses

The central quarter has long since emerged as one of the trendy areas and attracts the high society of the Hanseatic pearl. Cute little cafés line the streets and invite you to linger while the residents pass by with their children and kids. Even those looking for culture are in the right place here, because the city park offers many opportunities to pass the time with exercise, art and education.

• Living in Winterhude

Eppendorf: Exceptional architecture and well-kept green spaces

The residential area impresses with exceptional architecture surrounded by extensive green spaces, which are perfect for relaxing walks and also offer great jogging routes. The ‘village in the city’ is especially captivating due to the University Hospital, one of Hamburg’s largest employers, which also ensures that Eppendorf is particularly easy to reach by car and public transport. We also tell you what culinary delights await you in Eppendorf.

Elbvororte: Blankenese, Othmarschen, Rissen & Co.

The Elbe suburbs on the slopes of the Elbe are considered home to Hamburg’s rich and beautiful. Away from the hustle and bustle, the self-respecting build their houses in the idyllic greenery. What appears to be far away from the action on the map is nevertheless easy to reach by S-Bahn. Beautiful villas, impressive buildings and an incredible view make up the flair of Blankenese, Rissen & Co. Even those who don’t move here should definitely not miss the Treppenviertel and the Elbstrand. Read more here:

• Living in Blankenese

Real estate in the Elbe suburbs is among the most expensive in the city. Villas overlooking the entire banks of the Elbe are particularly sought after. And even apartments in old and new buildings are nowhere as expensive as here.

Square metre prices: 6,000 to 20,500 €/m²

Elbvororte: Map & Location

The Elbe suburbs are all not far from each other. So within almost 30 minutes each suburb is easy to reach.

Sightseeing: Luxurious living on the banks of the river Elbe

Luxurious villa, spacious maisonette and exclusive detached house – those who live in the Elbe suburbs can not only enjoy a fabulous view over the Elbe, but also the most sought-after properties in Hamburg.

See for yourself on Streetview:

HafenCity: Luxurious living at the pulse of the city

This district promises luxury apartments directly on the Elbe with views over the water. HafenCity is one of the newest districts of Hamburg and has already made a name for itself as one of the most exclusive districts of Hamburg during the construction phase from 2000 – 2009. The construction of the Elbphilharmonie – one of Hamburg’s new landmarks – has also contributed significantly to its fame. Learn more here:

• Living in HafenCity

The district borders directly on Hamburg’s city centre and is thus only a stone’s throw away from the shopping opportunities of the Hanseatic city. In addition to cafés and restaurants, you will also find several private universities and a variety of hotels here.

Square metre prices: 9,000 to 28,700 €/m²

HafenCity: Map & Location

In addition to the Elbphilharmonie concert hall, there are other attractions here, such as the Spice Museum or the International Maritime Museum. In addition, you can also reach the district by subway since 2014. The station is called HafenCity University.

Sightseeing: Elbphilharmonie and modern architecture

There is also no shortage of bars and restaurants, which also has to do with the fact that the companies located here and in the vicinity like to spend their business lunch in an upscale atmosphere. In addition, the area is characterized by tourism, which drives additional crowds into the district.

Explore the luxury quarter of HafenCity for yourself and get an idea of the surroundings:

Harvestehude: Historic district with upscale flair

Historic old buildings, pompous stately homes of years gone by and exclusive Art Nouveau villas characterise Harvestehude’s breathtaking cityscape. The location between the Outer Alster and the Isebek Canal is prime, the green spaces are well-kept and the charm of the district is reminiscent of the elegance of 19th century high society. Continue reading here:

• Living in Harvestehude

You would like to buy a property in Harvestehude? Whether it’s an exclusive loft, a spacious villa or a renovated apartment in an old building – all types of property can be found in Harvestehude. Especially upscale properties with slightly less square meters are very popular.

Square metre prices: 5,000 to 15,000 €/m²

Harvestehude: Map & Location

Located in the north of Hamburg, tranquil Harvestehude allows a first-class view of the Außenalster. The popular HafenCity and Rotherbaum districts are also close by. Uhlenhorst is across the street, as is Winterhude, adjacent to the Stadtpark.

Sightseeing: Tour through the most expensive streets of Hamburg

Harvestehude is home to several monuments, sights, green spaces and parks. While the well-kept green spaces invite you to spend a relaxing afternoon outdoors, the many churches and the local monastery contribute to the unique charm of the district with their historical flair.

Convince yourself here of the charm of the district:

Speicherstadt: Unique cityscape full of historic brick buildings

Especially the Speicherstadt inspires with its unique flair characterized by the many canals that run through the district, as well as the neo-Gothic brick buildings, which give the district its unique historical charm. Furthermore, as the largest warehouse ensemble in the world, the Speicherstadt has a lot to offer: While boat trips invite you to explore the area by boat, it is possible to take a relaxed stroll along the moated castle with a coffee in hand. Read more here:

• Living in Speicherstadt

The attractiveness of the residential location is also reflected in the prices per square metre. These have been rising very strongly for some time. And rightly so, in our opinion. After all, the district inspires not only young and old, but also singles, couples, families and investors.

Square metre prices: 6,000 to 18,500 €/m²

Speicherstadt: Map and location

To the north of HafenCity and south of Uhlenhorst and Winterhude lies the Speicherstadt. The area with its historic warehouse complex has been a listed building since 1991. The six fleets that run through the Speicherstadt include Kehrwiederfleet, Brooksfleet, St. Annenfleet, Holländischbrookfleet, Kleines Fleet and Wandrahmsfleet.

Sightseeing: Gothic Revival Brick Architecture

The architecture of the Speicherstadt is unique. There are a total of 15 warehouse blocks and six outbuildings here. And since 1991, these buildings have even been listed as historic monuments. Join us on a tour of one of Hamburg’s most sought-after residential areas.

Uhlenhorst: cultural stronghold on the banks of the Alster

On the Schönen Aussicht you will find, among other things, the most popular housing options in Hamburg. From here you can overlook not only the Alster, but also large parts of the city. Uhlenhorst is definitely a neighborhood for aspiring singles who, in addition to the great view, also value proximity to the city center and especially appreciate living in a hip neighborhood with many smaller nightlife options, such as restaurants, cafes and bars. It doesn’t take forever to get to St. Pauli either. This is reached from Uhlenhorst in about 30 minutes. Learn more here:

• Living in Uhlenhorst

So you are interested in real estate as an investment and would now like to buy a house or buy an apartment? Condominiums are particularly popular in Uhlenhorst.

Square metre prices: 7,200 to 15,500 €/m²

Uhlenhorst: Map & Location

The centrally located Uhlenhorst district lies to the east of the Außenalster lake and is opposite Harvestehude. The districts of Rotherbaum, Winterhude and Hohenfelde are also not far away.

Sightseeing: Impressive houses and cute cafés

The wide, tree-lined streets really invite you to stroll along. Well-developed bike lanes and space for pedestrians help to avoid getting in each other’s way. Furthermore, the district impresses with its comparatively young residents, who are also responsible for the streetscape.

Explore the popular Uhlenhorst district here:

Winterhude: splendid living near the city park

Diagonally opposite the beautiful Eppendorf lies the up-and-coming district of Winterhude. This part in the district of Hamburg-Nord is particularly captivating with its luxurious villas and charming art nouveau buildings. Here, the Hanseatic charm has been preserved and is expressed not only in the architecture through clinker brick buildings and white villas, but is especially evident in the local coastal atmosphere. Learn more here:

• Living in Winterhude

Good connections to the city centre and a pleasant cityscape drive up the popularity and thus the purchase price. On the other hand, there are particularly exclusive and sought-after penthouse apartments with incredible views and a lot of new buildings.

Square metre prices: 5,500 to 16,300 €/m²

Winterhude: Map & Location

Winterhude is as diverse in its residents as it is in its streetscape. The neighbourhood surrounds the Stadtpark and is in close proximity to the Außenalster lake. The city centre and nightlife district of St. Pauli are easy to reach thanks to the multiple underground stations, and the journey only takes 30-40 minutes. But Winterhude itself is never boring, with cafés and restaurants, as well as pubs and bars.

Sightseeing: Luxury apartments meet cultural program

In addition to the loft apartments in renovated old buildings and art nouveau houses, the district is characterized above all by the possibilities of the city park. This not only offers paths for a leisurely stroll, but also has a range of cultural offerings. In addition, the district offers a regular weekly market where fine delicacies from the region can be tasted and bought.

Convince yourself here of the charm of the district:

Eppendorf: Real estate with historic charm

The district impresses with its historic architecture and many green spaces. Those looking for an upscale residential area with well-rehabilitated old buildings will find what they are looking for in Eppendorf. Upgraded city villas and top modernised old buildings characterise the image of Eppendorf. The university hospital located there attracts many chief physicians and professors who value a short commute to work. Accordingly, you can expect higher apartment and house prices, but it’s worth it.

Eppendorf: Map & Location

This is definitely not Hamburg’s largest district, but it is all the more exclusive for it. Houses and apartments are in high demand, especially due to the good reputation that precedes Eppendorf. The subway stations Eppendorfer Baum and Kellinghusenstraße connect you with the rest of the city. Above all, there is no shortage of small cafés here.

Sightseeing: Elegant mansions and cozy cafes

Colourful house facades, decorated, beautifuly planted balconies and cute cafés, that’s what you can see in Eppendorf. The quiet area is not only good for the soul, but also does not have to hide visually – with ornate house facades and large windows that suggest light-flooded condominiums.

Get an idea of the charming surroundings of Eppendorf yourself here:

Conclusion: Which is the best residential area in Hamburg?

No absolute judgement can be made about this. Those who prefer it a little quieter in the suburbs, but do not want to do without the luxury of fast connections and exclusive golf clubs, as well as waterfront is in Blankenese in any case in good hands. Uhlenhorst and Winterhude are the place to be in Hamburg for young couples or singles, but families will also have no problem finding what they are looking for in Winterhude. HafenCity in particular is the best option for anyone who likes to be in the middle of the action.

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. Above all, 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.

• Real Estate Hamburg

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 everything you need to know about prices per square metre and properties in Hamburg’s most sought-after districts here. Read more here: Living in Hamburg.

• Elbe suburbs
• HafenCity
• Harvestehude
• Speicherstadt
• Uhlenhorst
• Winterhude

House, apartment and land for sale 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 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.

• Blankenese
• Rissen
• Othmarschen
• Port City
• Harvestehude
• Rotherbaum

Why the building inspection is so important for builders!

The building inspection is a matter that many builders simply forget about or accept without knowing it. In many cases, the construction is considered accepted by the client even though no proper construction acceptance has taken place. This is the case, for example, when the contractor sets a deadline for acceptance in a construction contract, but the client lets it pass. Such cases happen more often than one might think and most of the time the builders are so stressed that they no longer know that a proper acceptance is necessary.

Acceptance of construction – an important legal act

Many construction companies dismiss the building inspection as a mere formality and play down its importance. In fact, however, the building inspection is an important legal act that can have far-reaching legal consequences. Errors that are not recognized during the acceptance process can be very costly for the building owner. In general, the acceptance refers to the handover of the finished building to the building owner. With the decrease the owner recognizes thus that all was executed contractually and no lack of on the part of the building firm are to be found. With the decrease then also at the same time the requirement for fulfillment expires opposite the building firm and warranty claims can be made valid. It becomes already clear, how devastating a not accomplished building acceptance for the owner can be. Once the acceptance has taken place, the burden of proof is reversed. This means that prior to acceptance, the contractor is responsible for proving the defects to the owner and once acceptance has taken place, the owner must prove the defects to the contractor and prove that they were not caused by the contractor. Explained by an example this means that in case of a defect like a warped parquet the parquet layer has to prove before the acceptance that this defect is not caused by his bad wood or a defect of his work but has another origin. After acceptance, however, the builder is responsible for proving that the defect was the fault of the craftsman and not, say, his own fault. This can be difficult for builders, as it is difficult to prove the origin of a defect after the fact. So after acceptance, defects are the builder’s problem, not the contractor’s. All builders should therefore exercise caution and have the acceptance carried out in detail in order to avoid such risks.

Building inspection – all this is part of it

In order to be on the safe side when it comes to the building inspection, you should pay attention to a few things right from the start. It is best to stipulate directly in the building contract that a formal building inspection will take place upon completion of the property. The formal building inspection is absolutely necessary in order to have a claim for the improvement of possible defects. Tips and costs: home renovation. For the building inspection itself, you should definitely bring your own surveyor. Since most builders don’t really have much expertise on the substance, it’s worth bringing in someone who has experience and can spot potential faults that you wouldn’t have seen. At the time of acceptance, a so-called acceptance protocol is drawn up. This lists all defects that were found on the day of acceptance, but also those that were identified earlier and have not yet been rectified. It is advisable to make a tour of the house with the expert on the day before the acceptance in order to examine everything in detail in peace and without time pressure. Experts often find faults, as they know exactly where to look through experience. The builder must make a reservation for all defects that are detected during the acceptance, otherwise he loses the right to have the defects remedied. Building owners can, however, also refuse acceptance of the building in certain situations and should definitely do so, especially in the case of serious defects. If serious defects are discovered during acceptance, such as a non-functioning heating system or canopies that have not yet been installed, the builder should refuse to sign the building acceptance protocol in any case, even if the builder urges him to do so. In any case, the protocol should only be signed when all defects have really been eliminated. The promise to remove the defects in the near future should not be sufficient for the builder and with such important formalities you should take it very carefully! Insist therefore with contract production absolutely on an acceptance and accomplish this carefully. Observe all formalities so that you really have a right to have the defects rectified afterwards.

Acceptance of construction – what happens with the defects?

After acceptance of the finished house, this must be paid in full to the building contractor. However, if defects have occurred during the acceptance, the builder has the right to withhold part of the money until the defects have been repaired. The builder is allowed to withhold twice the amount expected to be needed to repair the defects from his final payment. He should definitely do this to ensure that the defects are actually repaired. Unfortunately, defects are regularly due on building inspections and so have not been uncommon for a long time. Should defects become visible during the acceptance of your house construction, set a date with the building contractor directly in the acceptance protocol, on which all defects found must be eliminated. On this day, a second acceptance should take place to check whether the defects have been removed in accordance with the contract. If defects can still be found on this date, you can set a new date by which the defects must be removed. Contractors generally cannot refuse to accept the finished property. In order to avoid trouble and discussions, specify everything in the building contract and agree with the company in advance so that you do not have to argue about such minor details afterwards. It is also important for you that the construction company only has to have completed what has been stipulated in the contract on the acceptance date. So it is better to be precise and detailed, especially with regard to the contents of the building contract. If something is not specified in the building contract and you have agreed it for example only verbally with the building contractor, you have no legal claims on it at the building inspection. The same applies if the construction company has installed additional things that are not listed in the construction contract. They have then no obligation to pay this extra also. For the protection of all, a detailed construction contract makes the most sense.