Berlin housing activists lead a campaign to fight rising rents.
Apartment buildings in the district Mitte photographed from the television tower in Berlin, Germany, Thursday, April 4, 2019. A campaign is being launched in the German capital to force the Berlin's state government into taking over nearly 250.000 apartments from corporate owners like Deutsche Wohnen and others.
With the return of the government to the city from the West German capital of Bonn, and its growing popularity as a high-tech and startup hub, the population has been increasing since 2004 from 3.39 million to 3.6 million. Still, according to the average monthly prices from the fourth quarter of 2018, 1,000 euros could get you an apartment of more than 80 square meters in Berlin, but less than 60 square meters in Munich, Germany's most expensive city for rents.
The group's main target is Berlin's biggest landlord, Deutsche Wohnen, a publicly traded company that has 111,500 apartments in Berlin with an estimated market value of about 15.2 billion euros — the majority of which were acquired from the city over the last decade or so as the capital struggled with debt. With those and the properties of several other companies, a total of about 243,000 apartments worth more than 36 billion euros could be affected.
He added that already, half of rental income is reinvested in Deutsche Wohnen properties, 5 percent of new apartments are offered at lower rents or rent-free for "social purposes" such as housing for refugees or battered women looking to start new lives. He said the company also follows government regulations like the "mietspiegel," or "rent mirror," which is used to calculate allowable rent increases by reflecting neighborhood averages.
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