Start Europe With a square meter price of 38,588 euros

With a square meter price of 38,588 euros

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The just completed building of the Elbphilharmonie concert hall in Hamburg, northern Germany, is pictured on November 3, 2016. Around nine and a half years after laying the foundation stone, the new construction sitting ontop of an old warehouse building was finished and handed over to the city of Hamburg. The concert house nicknamed "Elphi" is scheduled to be inaugurated on January 11, 2017. / AFP PHOTO / John MACDOUGALL

The most expensive Hamburg apartment costs eleven million euros and is located in the Elbphilharmonie. With a square meter price of 38,588 euros, the apartment cost another 10,000 euros per square meter more than the most expensive property in the previous year, said the brokerage firm Dahler & Company on Monday in Hamburg. Basis for the evaluation are the figures of the Hamburg expert committee for the first half of 2018.

Accordingly, the object in the Elbphilharmonie is an absolute outlier. On average, the price for condominiums in the premium segment fell from € 6,759 to € 6583 per square meter. These were in the first half of 1017 condominiums with a minimum price of 5000 euros per square meter. Of these, only 76 apartments exceeded € 9,000 per square meter.

For the brokerage company, the Hamburg real estate market is still on the upswing, especially in the upper segment. The sales figures for expensive apartments and houses increased by 14.5 percent.