The local authorities of Hamburg (Germany) intend to sell their real estate on a large scale. With the estimated yield of € 1.6 billion, the city wants to clear off its budget deficiency.
The municipality wants to value 220 real estate objects and test their saleability. The municipality will invite European tenders for this task. The portfolio for sale consists of all the office buildings as well as parking places and court houses. Only the police and fire stations will remain property of the city.