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Hardly any normal earner can still afford the rents in Berlin:
The initiators of the Berlin referendum are fighting for the expropriation of the real estate groups.
The vote is not legally binding - although the Berlin SPD top candidate
Franziska Giffey
has promised a serious examination
Photo: PAUL ZINKEN / AFP
Vonovia, Deutsche Wohnen and Co. threatens hardship in Berlin: There a majority of voters spoke out on Sunday in favor of the expropriation of large housing groups.
A total of 56.4 percent of Berliners voted for the referendum on "expropriate Deutsche Wohnen & Co.", 39 percent against, according to data from the state election control on Monday.
At the same time, the minimum quorum required for the approval of a quarter of those eligible to vote was achieved.
According to the resolution text, the Berlin Senate is now called upon to "initiate all measures" that are necessary for the transfer of real estate into common ownership and to draft a law for this purpose.
Specifically, the project, which is so far unique in Germany, involves all profit-oriented real estate companies with more than 3,000 apartments in Berlin.
The apartments are to be expropriated for compensation and transferred to an institution under public law.
Around 240,000 apartments (15 percent of Berlin's rental housing stock) would be affected, including from Deutsche Wohnen, Vonovia and Akelius.
A legally controversial undertaking worth billions.
With the drastic step of expropriation, the initiative wants to stop a further increase in rents in the capital.
In Berlin, the level of asking rents in particular has risen sharply in recent years.
Even normal wage earners find it difficult to find affordable accommodation in many parts of the city.
Giffey wants to draft a law
However, since the referendum does not contain any concrete law or a constitutional amendment, the result is not binding.
The Berlin Senate is not obliged to draft a corresponding law on expropriation.
The Berlin SPD top candidate
Franziska Giffey
(43) has nevertheless promised a serious examination.
This referendum must be respected and the necessary steps must be taken, "said Giffey on Monday in the ARD" Morgenmagazin ". However, Giffey also expressed doubts about the feasibility of the socialization of large real estate groups associated with the referendum:" If that is not constitutional, we can don't do it either. "
Berlin should not get another negative judgment from the Federal Constitutional Court, warned Giffey on the RBB Inforadio. The highest German court had recently overturned the Berlin rent cap. In the case of the expropriation plans, too, it is very likely that the project will end up at the Federal Constitutional Court - and also be overturned. After the SPD's election victory in Berlin, Giffey has good prospects of leading the future Senate as governing mayor. In the election campaign, however, she spoke out against expropriations.
The question is also whether the Senate can even afford these expropriations.
According to forecasts by the Senate, the compensation costs alone would amount to 29 to 36 billion euros.
With around 60 billion euros in debt, Berlin is already one of the most heavily indebted federal states in Germany.
The expropriation initiative, on the other hand, expects only 7.3 to 13.7 billion euros.
It does not want to compensate the real estate company with money, but with bonds, which are then repaid from the rental income over a period of 40 years.
Vonovia successful with takeover of Deutsche Wohnen
After the Berlin vote, Germany's largest housing group Vonovia called for more constructive solutions for expropriating housing stocks from large corporations.
"Expropriations do not solve the many challenges on the Berlin housing market," said Vonovia boss
Rolf Buch
(56) on Monday.
Even after the decision, politicians could work out more constructive solutions that addressed the concerns of many people that they could no longer afford their homes.
Vonovia is currently about to take over the number two on the German market, Deutsche Wohnen.
The Bochum company has meanwhile secured the majority in the Berlin competitor with 50.49 percent of the share capital and voting rights, as Vonovia announced on Monday.
The 19 billion euro deal is being heavily criticized, especially in the capital, as Deutsche Wohnen's real estate portfolio is primarily in Berlin.
As part of their merger plans, the two companies have already sold 14,750 apartments to municipal housing companies.
In the next step, they want to voluntarily limit their rents in Berlin for the next five years.
In addition, they are ready to build around 13,000 new apartments in Berlin.
The two real estate giants listed in the leading index Dax together own around 550,000 apartments valued at more than 80 billion euros, most of them in Germany.
The Federal Cartel Office had already approved the plans.
Vonovia share increases significantly
The stock exchange reacted calmly to the referendum in Berlin.
The Vonovia share gained around 4 percent.
Investors reacted with relief to the fact that Vonovia has now taken over Deutsche Wohnen for the third time and that the left should not play a role in the new coalition at the federal level.
And with the FDP in a new coalition, there will be no nationwide rent cap.
Swedish group buys 14,000 apartments in Berlin
Unimpressed by the referendum on the expropriation of large housing groups in Berlin, the Swedish real estate group Heimstaden has bought around 14,000 apartments in the capital.
The company announced on Sunday evening that it was acquiring a total of 17,600 apartments in Berlin and Hamburg from Akelius;
According to Akelius, there are 14,050 in the capital and just under 3,600 in the Hanseatic city.
The deal is planned for the end of 2021, Heimstaden said.
A price was not mentioned.
The group is thus significantly expanding its housing stock in Germany.
So far, the group has owned around 7,300 apartments in Berlin, Halle, Magdeburg and Rostock.
According to its own information, the Swedish group owns around 116,000 apartments across Europe.
Heimstaden has been active in Germany since 2018.
mg, mbö / dpa-afx, Reuters, AFP
