Move to renationalise buildings follows protests over rising property prices in the city
After continuous, and sometimes steep, increases in residential rents in major European cities over the past few years, prices now seem to have plateaued and are levelling out, the latest research shows.
Vonovia CEO says he doesn’t want cities just for the wealthy. Berlin needs to use time to address deeper issues, Buch says.
Surging rents have sparked protests and a referendum push. Lack of affordable homes is becoming a bigger political issue.
German builders completed nearly 285,900 new dwellings last year, the highest number in 16 years, data showed on Wednesday, but construction still fell short of expectations and may not ease a drastic shortage of affordable housing.
Prime property prices in key cities around the word are continuing to moderate with the latest data showing they increased by 1.3% year on year, down from growth of 4.3% two years ago.
Rents in European cities for studios, apartments and rooms are continuing to rise but the growth is beginning to slow, with levels down in the first quarter of 2019, the latest index shows.
Support is growing for a referendum on whether to ban large landlords from the German capital and turn their property into social housing stock
Prime property price growth in key cities around the world slowed in the second half of 2018 to just 0.4% but overall increased by 2.3% across 2018, the latest international index shows.
Residential rents and property prices increased significantly in Berlin in 2018 and are expected to continue rising, according to a new analysis report.
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