Skip to content
Subscriber Only
Business
Pursuits

Hamburg Housing Gains Show Germans Seek Anchor in Real Estate

Hendrik Hesselmann says he tells customers he can’t promise spectacular returns from buying homes through his Hamburg-based real-estate broker. That hasn’t stopped the company from having its best year in six decades.

“We have a lot of very rich customers who say they want to be on the safe side, that banks and markets are too dangerous,” said Hesselmann, a manager at Karla Fricke, which offers properties at Hamburg’s Alster Lake and in HafenCity, Europe’s largest inner-city development. “If they buy an apartment or house, they know nothing strange will happen.”