Hamburg Q2 2026 condos: district €/m² shifts and 01.01.2026 BRW

What the Gutachterausschuss 2026 report actually covers

Hamburg’s Expert Committee (Gutachterausschuss für Grundstückswerte) published the “Immobilienmarktbericht Hamburg 2026” on 29 April 2026. It evaluates notarised transactions from calendar year 2025, not offers, and is the city’s primary benchmark for realised prices and volumes. The city stresses that unlike portal summaries, this report is built from the Kaufpreissammlung of notarised deeds. It can be downloaded free of charge from hamburg.de. ([hamburg.de](https://www.hamburg.de/politik-und-verwaltung/behoerden/behoerde-fuer-stadtentwicklung-und-wohnen/aktuelles/pressemeldungen/immobilienmarktbericht-hamburg-2026-ab-sofort-verfuegbar-1170046?utm_source=openai))

For condominiums (Eigentumswohnungen), the 2026 edition shows averages by building age and location quality (Lageklasse) using €/m² of living area. For example, 2010–2019 builds in “preferred” locations averaged around €12,924/m² in 2025; units from 2020 onward in “preferred” locations averaged about €13,600/m² in 2025. These figures illustrate the strong spread by location rather than a single citywide number. ([hamburg-business.com](https://hamburg-business.com/_Resources/Persistent/2/e/4/8/2e48ed3614d50b73b2a0cbc4d9c03f207e7eb77d/immobilienmarktbericht-2026.pdf?utm_source=openai))

The same report contains city maps and tables of district patterns and transaction counts, but again for the year 2025. Use it as the reference for what actually traded last year; combine it with Q2 2026 offer‑side indicators below to understand today’s pricing corridor. ([hamburg.de](https://www.hamburg.de/resource/blob/1166868/d21cbc3d6d1c7767bfb82752a3c4cb3d/d-immobilienmarktbericht-2026-data.pdf?utm_source=openai))

Q2 2026: citywide condo prices and quarterly change

Offer‑side data from ImmoScout24’s WohnBarometer (Q2 2026) shows Hamburg condominium prices edging up quarter‑on‑quarter: +0.9% for existing condos and +0.8% for new‑build. Current asking levels are €5,400/m² (existing) and €7,018/m² (new‑build). On a year‑over‑year basis the same source shows +3.4% (existing) and +4.0% (new‑build). These are asking prices; the official committee data above reflects notarised deeds with a one‑year lag. ([immobilienscout24.de](https://www.immobilienscout24.de/wohnbarometer.html))

This modest Q2 uplift aligns with multiple broker and portal narratives of a stabilising purchase market as financing costs plateaued through spring 2026. Always reconcile portal series (offers) with deed‑based evidence where possible. ([scout24.com](https://www.scout24.com/investor-relations/kapitalmarkt-story/marktupdate-wohnbarometer?utm_source=openai))

Where districts sit on €/m² as of June 2026

To locate relative price levels across Hamburg’s districts during Q2, portal snapshots for June 2026 are useful guides. Immowelt’s Hamburg price page lists district‑level asking prices such as: Hoheluft‑Ost €8,736/m², Groß Flottbek €7,723/m², Hamburg‑Altstadt €7,152/m², Hohenfelde €7,053/m², Hoheluft‑West €7,463/m², Groß Borstel €5,828/m², Fuhlsbüttel €5,142/m², Iserbrook €5,497/m², Hummelsbüttel €5,043/m², Horn €4,504/m², Moorfleet €4,026/m². The same page shows a citywide average asking price for condos of €6,018/m² in June 2026 and identifies Harvestehude as the priciest district for condos around €10,187/m². These are offer prices and can differ from deeded outcomes. ([immowelt.de](https://www.immowelt.de/immobilienpreise/hamburg/wohnungspreise))

For longer‑run context, the LBS price map for 2026 classifies most central and western inner‑city areas in the €6,000–€8,000/m² and €8,000+/m² bands for existing condos, while outlying quarters in the south‑east sit mostly in €3,000–€4,000/m². Again, these are orientation ranges, not transaction records. ([lbs.de](https://www.lbs.de/api/download/7081/Preiskarte_A3_2026_ETW_Bestand_DIG.pdf?hash=Preiskarte_A3_2026_ETW_Bestand_DIG_bbd6147b34))

About district ‘shifts’ in Q2: what you can and cannot read

The expert committee does not publish quarterly district‑level condo metrics. Among public sources, ImmoScout24 provides city‑level Q2 changes for condos, while portals and broker dashboards provide June snapshots by district. Immowelt’s June 2026 district list (above) is a contemporaneous cross‑section, not a quarter‑on‑quarter change log. ([immobilienscout24.de](https://www.immobilienscout24.de/wohnbarometer.html))

Some broker dashboards do show quarter‑on‑quarter movements by borough and district, but they aggregate offer data and sometimes mix asset types. For example, Engel & Völkers’ Hamburg overview (status 1 September 2026) shows small q/q moves at borough level between Q2 and Q3 2026 (e.g., Hamburg‑Nord roughly −0.38 % and +1.28 % across two series; Hamburg‑Mitte about −3.60 % and −2.04 %). Treat such borough and district q/q signals as directional only; sample sizes and listing mix can shift quarter to quarter. For condo underwriting, do not substitute these for deed‑based comparables. ([engelvoelkers.com](https://www.engelvoelkers.com/de-de/immobilienpreise/hamburg/?utm_source=openai))

How the 01.01.2026 Bodenrichtwerte feed into appraisals and pricing

Hamburg publishes new Bodenrichtwerte each year with the valuation date (Stichtag) 1 January; since 2022 the city has standardised on annual 01.01 dates. You can view the values in BORIS.HH (the interactive map) and request official extracts. The city also provides IDA.HH, a data service for valuers. ([hamburg.de](https://www.hamburg.de/politik-und-verwaltung/behoerden/behoerde-fuer-stadtentwicklung-und-wohnen/aemter-und-landesbetrieb/landesbetrieb-geoinformation-und-vermessung/produkte-und-dienstleistungen/infos-ueber-grundstuecke/gutachterausschuss-fuer-grundstueckswerte/bodenrichtwerte-244526))

Legally, Bodenrichtwerte are set by the Gutachterausschuss under section 196 of the Federal Building Code (BauGB) and are part of the “data required for valuation” under the federal valuation regulation (ImmoWertV 2021, in force since 01.01.2022). ImmoWertV specifies the Bodenrichtwert/Bodenrichtwertgrundstück concepts and the use of an “object‑specific adapted” BRW when the standard parcel differs from your property (e.g., plot size or floor‑area ratio). Hamburg’s IDA.HH documentation lists these datasets explicitly for valuers. ([gesetze-im-internet.de](https://www.gesetze-im-internet.de/bbaug/__196.html?utm_source=openai))

In practice for condos: appraisers typically value individual flats using the Vergleichswertverfahren (sales comparison). The land value is still relevant for plausibility checks and, where needed, for splitting total property value into land and building components. To do this correctly in Hamburg in 2026 you would: 1) pull the 01.01.2026 BRW in BORIS.HH for the correct use type (e.g., Mehrfamilienhäuser) and note that overview maps are normalised to WGFZ 1.0/1,000 m²; 2) adjust to your site’s specific parameters if they deviate (the city provides conversion tools and guidance); 3) multiply by your condominium’s land share (Miteigentumsanteil) to derive your share of land value; and 4) reconcile with comparable condo sales from the Gutachterausschuss or other deed‑based sources. ([hamburg.de](https://www.hamburg.de/politik-und-verwaltung/behoerden/behoerde-fuer-stadtentwicklung-und-wohnen/aemter-und-landesbetrieb/landesbetrieb-geoinformation-und-vermessung/produkte-und-dienstleistungen/infos-ueber-grundstuecke/gutachterausschuss-fuer-grundstueckswerte/bodenrichtwerte-244526))

Two cautions. First, a Bodenrichtwert is a benchmark for a standardised, fictitious parcel in the zone; it is not a transaction price for your unit. Second, always match the BRW’s valuation date to your appraisal date; ImmoWertV requires values to be referred to a defined stichtag. If you need a legally robust report, engage a publicly appointed and sworn valuer (öffentlich bestellter und vereidigter Sachverständiger). ([gesetze-im-internet.de](https://www.gesetze-im-internet.de/immowertv_2022/?utm_source=openai))

Practical takeaways for buyers and investors

• Use two lenses. For what really closed, read the Hamburg 2026 committee report (2025 deeds). For today’s direction, read Q2 2026 offer‑side indicators (WohnBarometer) and June district snapshots (Immowelt). Expect offers to sit above or below deeded outcomes depending on negotiation power. ([hamburg.de](https://www.hamburg.de/politik-und-verwaltung/behoerden/behoerde-fuer-stadtentwicklung-und-wohnen/aktuelles/pressemeldungen/immobilienmarktbericht-hamburg-2026-ab-sofort-verfuegbar-1170046?utm_source=openai))

• District differentials are wide. In June 2026, premium districts such as Hoheluft‑Ost, Groß Flottbek and Hamburg‑Altstadt print high‑€7k to mid‑€8k per m² asks for condos, while peripheral districts often cluster around €4k–€5k per m². Underwriting that ignores this spread is risky. ([immowelt.de](https://www.immowelt.de/immobilienpreise/hamburg/wohnungspreise))

• If you need a land‑share split or plausibility check, anchor to the 01.01.2026 BRW in BORIS.HH and apply the ImmoWertV framework (object‑specific adaptations when the standard parcel differs). For lending and IFRS/local GAAP purposes, ask a sworn valuer to document the method and stichtage. ([hamburg.de](https://www.hamburg.de/politik-und-verwaltung/behoerden/behoerde-fuer-stadtentwicklung-und-wohnen/aemter-und-landesbetrieb/landesbetrieb-geoinformation-und-vermessung/produkte-und-dienstleistungen/infos-ueber-grundstuecke/gutachterausschuss-fuer-grundstueckswerte/bodenrichtwerte-244526))

• Be cautious with district‑level quarter‑on‑quarter ‘moves’ you see on broker dashboards; they are listing‑based and can mix asset types. Use them for colour, not for pricing a bid. ([engelvoelkers.com](https://www.engelvoelkers.com/de-de/immobilienpreise/hamburg/?utm_source=openai))

• This article is general market information, not investment, tax or legal advice. For binding values, engage a publicly appointed valuer; for tax allocations, ask a Steuerberater.