Housing in Altona
Detailed housing data — sourced from authoritative datasets and normalized for direct comparison.
Housing in Altona, Hamburg
The housing market in Altona, like much of Hamburg, is experiencing significant demand and rising prices. A housing shortfall of approximately 90,000 dwellings is estimated across Hamburg, leading to a very low vacancy rate of just 0.5%. Rental and purchase prices are expected to continue their upward trend in the medium term. For instance, new-build apartment prices in Hamburg increased to €8,946 per square meter in 2025, showing an annual growth of 6.4%. While rents in Altona are considered affordable compared to some other central districts, securing an apartment can be challenging due to high demand.
Housing
About Altona, Hamburg
Altona, also known as Hamburg-Altona, is a vibrant and diverse urban borough located in the western part of Hamburg, Germany, on the right bank of the Elbe river. Historically an independent city until 1937, Altona boasts a rich past, including being burned down by Swedish troops in 1713 and later rebuilt with significant architectural contributions. Today, it is characterized by a mix of historic Art-Nouveau and Wilhelminian style multi-storey apartment houses, narrow streets, and modern developments like the 'Neue Mitte-Altona' project, which is transforming former rail infrastructure into a new neighborhood with housing and improved connectivity. People are drawn to Altona for its lively atmosphere, cultural diversity, and excellent quality of life, offering a blend of urban amenities, green spaces, and proximity to the Elbe river.
About Hamburg
Hamburg, Germany's second-largest city, is a cosmopolitan port city known for its maritime history, canals, and vibrant cultural scene. Its economy is robust, driven by major industries such as logistics, aerospace (with a significant Airbus presence), media, finance, and renewable energies. Living in Hamburg offers a high quality of life, though it is considered one of Germany's more expensive cities, with average monthly costs for a single person ranging from €1,100 to €2,085 excluding rent. The city experiences a maritime temperate climate with mild summers, cold and often wet winters, and frequent cloudiness.