Germany’s biggest port city offers a healthy real estate market
Discover Hamburg's Real Estate
Hamburg is Germany’s second largest city, both in terms of population and GDP. It has long been Germany’s biggest port city, a fact that drives the local economy. Industrious and hardworking, Hamburg boasts an attractive mix of practical amenities, like low unemployment, excellent transit, and good schools, with some of the finer things in life, such as beautiful architecture and scenic parks and waterways.
Culture, History, and Business
Hamburg’s history has seemingly always been connected to the sea and to trade. In the Medieval Ages it was a member of the powerful Hanseatic League, a confederation of northern European merchant guilds and towns. Later, it became a part of the Holy Roman Empire before becoming its own sovereign state in 1806. It was one of the last German states, along with Bremen, to become a part of the unified German nation in 1888. While it suffered considerable damage in World War II, it quickly bounced back to become one of the main drivers of Germany’s post-war boom. This proud history is reflected in Hamburg’s official name, which is the Free and Hanseatic City of Hamburg.
Today, Hamburg is one of Germany’s wealthiest cities. While its port remains an extremely important part of the economy, that economy has also attracted industries beyond trade, such as in aerospace, technology, bioscience, and media. It is home to a number of important international institutions, including the UNESCO Institute for Lifelong Learning, the EU-LAC Foundation, and the International Tribunal for the Law of the Sea.
Real Estate Appeal
Hamburg is arguably one of Germany’s best real estate markets, thanks to its strong economy and high quality of life. In fact, it was ranked the 19th most livable city in the world in 2019 by the Mercer Quality of Living Survey, and the 10th most livable in the world in 2017 by the Economist Intelligence Unit. Not only are employment and income levels high in Hamburg, but residents enjoy world-class amenities, such as great theaters and orchestras, beautiful parks, and excellent transportation.
Tourism is also strong in Hamburg, with more than 6.7 million visitors coming to the city in 2017. Visitors are attracted to Hamburg’s charming network of canals, its eclectic mix of architectural styles, and its excellent museums. It is also home to fantastic restaurants and great shopping, including Neuer Wall, one of Europe’s premier shopping streets. These factors mean that whether you’re considering Hamburg real estate for a long-term investment or for short-term property rentals, you’ll likely encounter considerable success in this thriving city.
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