Forced auctions in Hamburg: 272 properties are waiting for new owners!

Forced auctions in Hamburg: 272 properties are waiting for new owners!

in Hamburg there is an alarm mood in the real estate sector! Over 150 forced auctions have been registered in the Hanseatic city this year alone, and the situation could further tighten. While the dreams of their own house burst for many, the number of cases grows from year to year. From January to August 2023, the city's eight district courts recorded a total of 154 forced auctions, 20 more than in the previous year!

2023 for Hamburg -based real estate owners becomes a year of horror: so far, 272 forced auctions have been registered, and the list of the outstanding objects includes endless 356 houses, apartments and land! Particularly explosive: Most of these auctions took place in the districts of Barmbek and Wandsbek, where the number of newly recorded cases exploded with 30 and 36. For comparison: Blankenese, traditionally a coveted area, only recorded 5 new cases by the end of August.

The reasons for the dramatic situation

forced auctions are often the last rescue for creditors when homeowners fight with high debts and no longer affordable loans. The path to the "new" owner is strictly regulated: only if the highest bid reaches at least half of the determined traffic value when auction reaches the property. Without prior registration with a valid ID and a security deposit of ten percent of the market value, nothing works!

The drama of this situation is evident in the faces of many affected families - the dream of your own home becomes a nightmare for you. A look at the Hamburg court halls reveals: Forced auctions are not only an economic phenomenon, but also a human tragedy that runs across the city.