News from the real estate network

The price/earnings ratio* and the purchase price per square metre for buy-to-let residential properties in Hamburg have increased in 2020 and will continue to rise 2021.

Between January and June 2020 the transaction volume totalled €3.46bn or 28 % less than the same period a year before.

Despite the pandemic, the market for investment in commercial properties in Hamburg returned a strong 2nd quarter, closing with a transaction volume of some €2.0bn.

According to GPP member Grossmann & Berger, office space lettings in Hamburg during the 1st half of 2020 were at their lowest since 2004 with a mere 165,000 m².

In Hamburg-Billbrook, Grossmann & Berger has brokered the sale of the industrial site at Liebigstrase no. 30. The construction company OTTO WULFF has bought the land.

As GPP member Grossmann & Berger reports, for the first time since 2009 take-up of industrial, warehouse and logistics space dipped below 400,000 m² to 355,000 m² although the 4th quarter was the busiest in the past year.

A very sluggish 1st half year on Hamburg’s market for investment in commercial real estate gave way to remarkably brisk trading in the second half. The year’s total of 120 transactions generated sales of some €4.3bn.

According to GPP member Grossmann & Berger, the total take-up of office space in Hamburg amounted to 545,000 m² at the end of 2019. Due to the low vacancies and the high land and construction costs the office rents have risen significantly.

A site measuring 93,000 m² has changed hands in Winsen (Luhe) near Hamburg. The previous owner, a real estate company, had awarded Grossmann & Berger an exclusive contract to broker the sale.

In Spring 2020, LUICELLA’S Ice Cream is opening their fifth ice cream parlour. Ice cream lovers will find the outlet at Osterstrasse 133 in the Eimsbüttel district of Hamburg. Grossmann & Berger brokered the lease.