Real estate market report 2024

Market situation in Hanover and the surrounding area remains challenging overall

Even though the real estate market nationwide continues to be characterized by uncertainty due to the overall economic situation, the current analysis of the regional real estate market gives cause for cautious optimism, with the slumps and negative trends of recent times weakening in almost all submarkets. There are signs of a trend reversal, particularly in the letting of office and retail properties, and tourism is also picking up sustainably, improving the starting situation for the hotel real estate market.

Ulf-Birger Franz, Head of Economic Affairs:

"We can see some light at the end of the tunnel, but that doesn't mean we can rest on our laurels. It won't work on its own, which is why we need joint efforts. The administration, politicians and investors must all pull together to revive the markets. Hanover is a great economic area that has the potential. You can see this at the ONE Tech Campus in Garbsen, for example. A good example of how different players should network in order to focus on flexible real estate."

Anja Ritschel, Head of Economic and Environmental Affairs of the City of Hanover:

"With its strong and broad-based economy and excellent real estate sector, Hannover has a solid foundation. Global developments and the current economic situation are not leaving us unscathed. But we will continue to set the tone, be it through our housing promotion, the development of brownfield sites into new commercial areas or making the city center more attractive. All of this will directly benefit the real estate market."