Hamburg's luxury real estate: supply increases, prices fall!

Hamburg's luxury real estate: supply increases, prices fall!

The current market situation in Hamburg's premium real estate segment shows a significant increase in supply, while prices have fallen slightly. These findings are based on figures from ImmoScout24, which examine the trends for houses and condominiums in Hamburg. Compared to the higher prices in Munich, Hamburg has the second highest thresholds for premium apartments among the ten largest cities in Germany.

In the second quarter of 2025, the number of listings for condominiums in the premium segment increased by 19% compared to the first quarter. At the same time, there was a 13% increase in registered prospect inquiries compared to the previous quarter. Compared to the same period last year (Q2-2024), the number of offers increased by around 10%. However, the median asking price for premium apartments fell by around 2% to 11,393 euros per square meter.

Development in the premium housing market

There is a mixed picture in the area of ​​premium houses. Here the number of advertisements increased by 31% in the second quarter of 2025, while registered inquiries from interested parties fell by 34%. Compared to the previous year, advertisements increased by around 13%, but inquiries fell by 28%. The median asking price for premium homes is now €10,431 per square meter, down 6% compared to the previous quarter.

Florian Freytag-Gross, CEO, comments on the developments in the first half of 2025 as twofold. While the premium housing market is benefiting from growing demand and increasing supply, the premium housing market is showing reluctance on the part of interested parties. This discrepancy could mean that potential buyers have more choice in the housing market and can therefore expect a higher closing rate. In contrast, demand in the premium housing market remains above the low supply.

Conclusion and outlook

With the increasing number of advertisements in the premium market and the falling price level, the Hamburg real estate market could develop in interesting ways. Buyers benefit from broader choice, while market dynamics in the premium home segment prove challenging. Future deals in the premium housing market are likely to continue to rise, drawing attention to Hamburg as an attractive location for high-quality real estate.

Further information on luxury properties in Hamburg is available here immobilienscout24.de available.

For detailed insights into the current real estate market in Hamburg you can also read the article cash-online.de read.