For the first time, the city of Hamburg has the right of first refusal in a share deal. So-called share deals are controversial and are seen as a means to an end for land speculators.
In share deals, it is not the real estate itself that is sold, but shares in a corporation that holds the property. The practice is controversial because property transfer tax can be avoided in this way. In addition, share deals lead to land speculation, say critics of the practice.