BNP Paribas Real Estate's Hamburg-based residential investment team has appointed Niels von Seggern as regional residential investment director, covering the northern German city.
Together with his team of five, von Seggern has been charged with expanding the firm's local business. His previous roles included working at Engel & Völkers Commercial in Bremen for more than six years prior to joining BNP Paribas Real Estate, where he has worked most recently as a senior consultant in residential investment.
According to BNP Paribas, the Hamburg housing market is experiencing persistently high demand due to one of the lowest vacancy rates in Germany. The firm said that the many new construction projects across the urban area are deemed insufficient to close this supply gap in the short to medium term.
New schemes such as the Neue Mitte Altona or the Pergolenviertel, and alternative forms of living such as micro-apartments are, however, contributing to stock increases.
