Construction costs are currently skyrocketing

Old falcon. 2 million for 846m² of land with a demolition house.

There will probably be a row of four or five townhouses built there, who else would buy something like that besides larger developers

I'm just too stupid to find the listing, but: location location location. In Hamburg-Blankenese it's just like that and elsewhere too. Also for single-family houses.

Under ID 22NBC55 there is at least a property with a house, which is probably still salvageable or considered salvageable. However, it is also almost 300,000 euros more expensive. Plus the funds for renovation.

...
but: location location location.
In Hamburg-Blankenese that's just how it is and elsewhere too. Also for single-family houses.

Still crazy ...
(crazy in the sense of "really insane" or "where is this going")

A Skat friend bought a terraced end house at the beginning of the year (I only found out now because of Corona) in the neighboring town: somewhat run-down, 90 sqm with a basement, built in ’61, about 300 sqm. Yellow brick, two-story, on leasehold until 2060. The town has good infrastructure with a train station to Hamburg (30 km) and Bremen. Both are renters, living hand to mouth, between 55 and 60 years old. Their jobs don’t pay much. But they sold a condominium in Hamburg for a pittance – they paid €210,000 for their terraced house and are super happy with their own house, with the forest reachable after 100 meters, Aldi, Edeka and the like within 300 meters walking distance, city center about 1500 meters and train station 1 km away. I thought I’d tell you that there are still opportunities where comparable property is three times as expensive when new. I consider the situation and the property for them like hitting the jackpot. They actually only bought because it’s cheaper monthly than rent.