Bought a property for 210k in 2011. Invested 160k and a lot of manual labor for renovation. Current value is around 500k. Not sure were you have your numbers. But sure. I can get a similar property for 900k or more in some other parts of Hamburg. I could probably pay more than a million in the most prestigious parts. Living in a middle class area surrounded by greenery is more luxurious in my book, though.