The present invention relates to a condensing heat exchanger and a boiler/water heater including the same and, more particularly, to a condensing heat exchanger, which can increase a contact area between water and a combustion gas having high temperature and improve efficiency by passing a combustion gas, generated from a combustion chamber, through a plurality of exhaust pipes and which can be fabricated in a small and compact size, and a boiler/water heater including the same.

The present invention relates to a condensing heat exchanger and a boiler/water heater including the same and, more particularly, to a condensing heat exchanger, which can increase a contact area between water and a combustion gas having high temperature and improve efficiency by passing a combustion gas, generated from a combustion chamber, through a plurality of exhaust pipes and which can be fabricated in a small and compact size, and a boiler/water heater including the same.