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Apartments in Frankfurt am Main
Photo: A3602 Frank Rumpenhorst / picture alliance / dpa
The situation on the German housing market is tense, and the federal government is now reacting: A bill is intended to make it more difficult to convert rental apartments into condominiums.
The cabinet decided on Wednesday.
This should protect tenants from being forced out of sought-after residential areas.
The new regulations should initially apply until the end of 2025.
The Bundestag still has to give its approval for it to come into force.
It is planned that in areas with high rents and limited living space, the local authorities will have to approve the conversion of rental apartments into condominiums.
The designation of such areas is a matter for the state governments.
Exceptions are provided, for example when owners sell apartments to family members for their own use.
Federal Building Minister Horst Seehofer (CSU) described the planned law as a "milestone in housing policy".
It is particularly useful for those looking for accommodation.
There is also the construction industry as the "engine of our economy, new fuel".
Finance Minister Olaf Scholz (SPD) said of the draft law: "This is good news for tenants in Germany. We are ensuring more affordable apartments."
The German Tenants' Association reacted with satisfaction, but complained that there were loopholes in the law.
However, these were not named in more detail.
The owners' association Haus und Grund spoke of a "housing policy deceit by the federal government".
"Instead of mobilizing building land, property rights are being curtailed," criticized the association.
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