Selling instead of renting
For Berlin tenants, the search for a flat is becoming increasingly difficult. It can be observed that owners are increasingly selling their flats instead of renting them out. On the major portals, offers for rental flats with first-time occupancy before 2014 fell by 45 per cent in the summer of 2020, and offers for condominiums rose by 40 per cent.
Reader comment in a left-wing newspaper:
“Who is investing in new flats now, who is renovating the old ones? The idea of introducing a rent cap is crazy. First the Senate sells off its real estate for peanuts, then it wants to determine how it is used. Anyone who invested in real estate as a pension as a self-employed person is now allowed to subsidise cheap housing.”
Reader comment in a major daily newspaper:
“The rental income for my 80 sqm flat in Berlin Mitte was about €130. I had not increased the rent for the tenant, an elderly gentleman, for 12 years. The rent cap would have perpetuated this forever, because no political party can afford to let the rents shoot up after 5 years. To be called a rent shark by the Red-Red-Green Party was too much. I had no choice but to sell the place. It goes without saying that the buyer will move into the flat himself.