Folks let us be clear about it. If there is a large harbour there will be a sex business and Hamburg is one of the busiest harbours in Europe. Sex business does attract all kinds of people whom you normally do not want to mee in the dark so the first tip here is:
If you do not like sexbusiness and the things associated with it stay away at least from the western end (say from Davidstraße on).
Use commen sense. No expensive jewelry or watches or cameras and yes, that extends to iphones of the newest kind. Do not flash large amounts of cash.
The eastern part of the street has turned much more in an amusement park with some (overpriced) restaurants and a nice market in which good food and drink can be found (resonable prices). Have a nice time there. Also this is the area for theatre and musical.
If you are at a stag or hen group and get drunk, stay with the group. Or at least do not get so drunk that you will be easy prey.
Go at night,
Good food still can be found in the streets just north of the Reeperbahn.
The best advice is to simply know waht to expect and enjoy sensibly and you can have a bloody good time.
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