COLOGNE, Germany (Reuters) – German Chancellor Angela Merkel urged private housing investors on Friday to recognize their obligation to the public amid growing concern that spiraling rents in Germany’s biggest cities are pricing out locals and choking off economic growth.
Speaking at a nationwide congress of German tenants, Merkel said “public-spirited” private investors had a crucial role to play in solving Germany’s housing crisis, and that authorities should make sure to use all tools at their disposal to regulate landlords.
Thousands - Streets - Capital - April - Expropriation
Thousands took to the streets of the German capital in April demanding the expropriation of more than 200,000 apartments sold off to big private landlords. Much of their ire was directed at companies like Deutsche Wohnen, Berlin’s biggest landlord with more than 115,000 flats, and Vonovia.
“We need private investors who must also feel a...
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