With 1.7 million inhabitants, the Free and Hanseatic City of Hamburg is the second largest city in Germany and one of the 16 federal states of the Federal Republic of Germany. Hamburg is both a city and a state.
With 755 square kilometers, the city area is seven times bigger than Paris and two and a half times bigger than London. As a result, Hamburg's living and housing standards are particularly high.
With 30 square meters of living space per person, Hamburg has the biggest average living space of all major cities in the world. The river’s waters pass through the region, providing beautiful tree-lined waterways and lush parklands. Hamburg boasts 2,302 bridges - more than Venice and Amsterdam combined. With over 90 consulates, Hamburg is second only to New York City in the world. There are two huge lakes located in the center of Hamburg
With tradition going back centuries and increasingly strong ties with Asia today, Hamburg is a major gateway to the world. With to the presence of the Hamburg Harbour, it is the principal port of Germany. It is an incredibly international and culturally diverse city attracting over 3,500 international companies and their employers. The city boasts some of Europe’s finest offerings in art, theatre, opera, music, ballet, radio and television broadcasting and film studios.
Another great reason to buy in Hamburg is the HafenCity development. Located on a 155 hectare site, HafenCity is one of the most prominent city centre development projects in Europe and will increase the size of Hamburg's city centre by 40%. Situated directly between the historic Speicherstadt warehouse district and the River Elbe, there will be a new city with a cosmopolitan mix of apartments, service businesses, culture, leisure, tourism, and retail. Development of the entire area will continue until 2020-25.
German investment is beginning to become as popular as investment was in the 90s in other European towns and cities. There are many Hamburg properties available for purchase and the Hamburg Buy to Let market is beginning to flourish.
Thinking about purchasing a property in Hamburg? Compare the average price per m² against other cities if you were to buy an apartment in Hamburg:
|City||Per Square Metre|
|Hamburg||4,800 to 9,000 euros|
|Dublin||6,000 to 12,000 euros|
|Paris||10,000 to 18,000 euros|
|London||12,000 to 18,000 euros|
Average gross yields in London and Paris are now below 5%. Its hard to cover the interest let alone have decent cash flow. In Germany you can borrow at 4 to 5% and earn above 6% and sometimes as high as 8%. This means that a Hamburg investment is one of the best options within the current financial market.
Germany has a well developed economy. It has had a decade of poor performance due to the massive problems caused when the east joined the west however the tide is turning. Un-employment is dropping and the grassroots recovery is beginning. The world cup brought a renewed perspective on Germany. Confidence is high and German property availability is on the up. The most significant economic basis for Hamburg is the Hamburg Harbour, which ranks 2nd only to Rotterdam in Europe and 9th worldwide. After the German reunification, Hamburg recovered the eastern portion of its hinterland, becoming by far the fastest growing port in Europe. International trade is also the reason for the large number of consulates in the city. Although situated 68 miles (110 km) up the Elbe, it is considered a sea harbor due to its ability to handle large ocean-going vessels. A great time to buy property in Hamburg.
The notary system ensures safe title so your Hamburg apartment will be safe. Your Hamburg investment will be as safe as if you were purchasing a property in the UK.
So you want to purchase a Hamburg Apartment who do you go to? German investment can be confusing especially if your only experience of purchasing a property is within the UK. Hamburg Estate agents could be your first port of call to find out what properties they have available. However even if you understand the German language, Hamburg real estate or Hamburg immobielien is a totally difference process to that of the UK. Buy Hamburg can provide a total turn-key solution from finding the ideal property, to providing English speaking solicitors and assist you with your Hamburg buy to let mortgage. Why go to a Hamburg Estate Agent when Buy Hamburg can take all of the pressure away.
Buy Hamburg is an established company specialising in providing a full turn- key solution for investors and funds looking to purchase Hamburg real estate. With offices in London, Hamburg and Berlin our team of bi-lingual staff are all well positioned to assist our clients throughout the whole buying process.