1. Historic Warehouse District: Hamburg is home to the largest warehouse district in the world, known as the Speicherstadt. This UNESCO World Heritage site features over 100-year-old brick buildings and canals, showcasing the city’s rich trading history. 2. The Hidden Underground: Beneath Hamburg lies an extensive network of tunnels and bunkers that date back to World War II. Many of these structures are no longer in use, but some are open for guided tours, providing a unique glimpse into the city’s past. 3. A City of Bridges: Hamburg has more bridges than any other city in the world, with over 2,500 bridges. This surpasses even Venice and Amsterdam, making it a fascinating destination for those who enjoy exploring picturesque waterways and stunning architecture.
Hamburg's housing market is characterized by high demand and insufficient supply. The city has approximately 977,000 dwellings, with 76% of households living in rented housing. In 2023, only 5,999 apartments were completed, a 35% decline from the previous year, marking a ten-year low in construction activity. The rental market dominates, with about 24% of residents owning their homes. As of 2024, the median rent for apartments is around 13.95 euros per square meter per month, while the median purchase price is approximately 6,550 euros per square meter. Public and social housing play significant roles in Hamburg's market. The state-owned housing company SAGA owns 136,000 homes, while cooperatives own about 135,000 units. Developments over 30 units typically require a mix of one-third social housing, one-third market rent, and one-third private ownership. The city aims to increase the number of Baugemeinschaften (building communities) to around 20% of all public development sites. Hamburg has also expanded funding instruments to include a third funding path for affordable housing, targeting medium-income households. Despite efforts to increase housing supply, the market remains under pressure. The city's population is growing, with projections to surpass 2 million inhabitants by 2023, further intensifying demand for housing in the coming years.
The city administration of Hamburg, Germany is actively addressing the housing issue through various initiatives. The central goal is to create urgently needed, affordable housing and relieve the strained housing market. Since 2011, Hamburg has been setting new standards in state funding for new housing construction through the "Alliance for Housing in Hamburg" program. Hamburg has implemented an innovative agreement that protects 30% of its green spaces while balancing housing construction with nature conservation. This pact requires the city to compensate for any loss of natural spaces, ensuring residents maintain access to nature in every neighborhood. The city focuses on subsidized housing construction, with improved terms in recent years. Subsidies are directed towards new development rather than existing stock. Hamburg works with landowners to make more property available for construction and uses a concept-based approach for awarding city properties, requiring at least 20% of overall development to be allocated to subsidized housing. Additionally, Hamburg has a program to purchase occupancy commitments for existing housing, though interest is currently low due to the strong property market. The city also supports the construction of affordable flats through a program that subsidizes housing, allocating millions of euros annually to create social housing throughout Hamburg. These efforts aim to increase the supply of affordable housing while maintaining Hamburg's status as one of Germany's greenest cities.