Commission-free real estate directly from the owner in Hannover

Hanover and the surrounding area have become significantly more expensive

The capital of Lower Saxony with its current population of just under 515,000 is not only the undisputed political, economic and cultural center of the state with the proud white horse in its coat of arms, it is also an important part of the Hannover-Braunschweig-Göttingen-Wolfsburg metropolitan region, which with its numerous and successful companies from many sectors, large-scale industrial sites and renowned universities and colleges has seen a strong demand for real estate of all kinds in recent years. Attractive jobs in closely located and well-connected cities in the midst of a nevertheless green and natural environment have ensured a large influx of people, which has led in part to a significant price increase not only in Hannover itself, but also in the surrounding region of the same name, which corresponds to a county, and its cities of Gehrden, Garbsen, Hemmingen, Isernhagen, Laatzen, Langenhagen, Lehrte, Ronnenberg, Sehnde and Seelze. Even in cities that are even further away, but potentially interesting for commuters, such as Peine, Gifhorn, Celle, Nienburg/Weser, Göttingen, Salzgitter and Hildesheim, this "capital city price increase effect" of the Leinestadt is now noticeable. Although property prices there are consistently lower on average than in Hannover (currently around 2,300 euros/m²), there have nevertheless been strong increases in both house and apartment prices everywhere. In the third quarter of 2013 alone, the residential market in Hannover developed dynamically and, with growth of almost 16 percent year-on-year, achieved a greater increase than Hamburg, Berlin and Dresden.

In good locations, prices for apartments and houses are often over 3,000 euros/m².

However, the average price of real estate in Hanover of around 2,300 euros/m² already mentioned above is still significantly exceeded for both houses and apartments in some locations and districts. For example, in Isernhagen-Süd at over 3,800 euros/m², in Waldheim at over 3,700 euros/m², in Nordstadt at over 3,300 euros/m², in Kirchrode at a good 3,200 euros/m², in Südstadt at just under 3,000 euros/m² and in Oststadt at almost 2,800 euros/m². In the central district of Mitte within the Cityring around Brühlstrasse, Leibnizufer, Friedrichswall, Aegidientorplatz, Marienstrasse, Hamburger Allee and Berliner Allee, Arndtstrasse, Schloßwenderstrasse and Königsworther Platz, apartments are now also commanding almost 2,500 euros/m². For houses, the urban picture is almost identical; here, too, prices have risen significantly since 2011, especially for houses around 100 to 150 m² in size.Themost expensive Hannoverian neighborhoods for detached single-family houses, terraced houses and semi-detached houses include Groß-Buchholz at over 3,600 euros/m², Kirchrode at almost 3,000 euros/m², Linden-Nord at almost 2,800 euros/m², Isernhagen-Süd, Bothfeld and List at around 2,700 euros/m² each, and Bemerode, Döhren, Sahlkamp, Südstadt and Davenstedt with prices between around 2,200 and 2,400 euros/m².

In the outlying districts and in older buildings, there are still some favorable offers.

Lower-priced condominiums in the Hannover city area with current prices between approx. 750 and 1,500 euros/m² can still be found in isolated cases in Leinhausen, Herrenhausen, Marienwerder, Vahrenwald, Groß-Buchholz, Ricklingen, Davenstedt, the Heideviertel and Oberricklingen. However, it is not uncommon for these apartments, which are often of simple construction, to be located in larger estates with apartment buildings and perimeter block development from the reconstruction period between the 1950s and 1970s. In the case of houses, the choice of rather inexpensive properties in Hannover is even more limited; for prices between approx. 1,800 and approx. 2,100 euros/m², at best and only with a bit of luck can one find acceptable houses of various construction years in Ahlem, Mittelfeld, Wülferode, Lahe, Badenstedt, Misburg-Nord and Misburg-Süd, at Nordhafen, in Oberricklingen, Stöcken, Wettbergen and Vahrenheide. However, in view of the almost continuous double-digit percentage increases in rents and square meter purchase prices for apartments and houses both in Hannover itself and in the surrounding area in recent years, most market observers and real estate experts currently tend to expect a stabilization in the price structure in the medium term. On the other hand there are also some voices, which rightly point out that the number of inhabitants of the city according to respectable prognoses with limited dwelling will continue to grow despite the now increasingly beginning local housing initiative and thus also the demand as well as the prices. Also the likewise already existing and further foreseeable lack of inexpensive dwellings, caused by only few building projects for low-priced dwellings, will presumably continue to aggravate thus in Hanover.

Short facts Hanover real estate:

- Property prices have risen by double-digit percentages since 2011
- This has also affected almost all neighboring cities and districts in the surrounding area
- In very good locations, the price level is almost as high as in Hamburg
- Inexpensive housing is sometimes still available on the outskirts of the city and in old new buildings
- These are often multi-family houses with a simple structure
- Real estate experts currently expect prices to stabilize in the medium term
- Critical voices fear further increases due to population growth