Berlin: Cost estimate for housing expropriations in February?

10/01/2019

The costs for an expropriation of Berlin apartments, which the initiative “Deutsche Wohnen & Co. enteignen” is striving for through a referendum, should be clear by the beginning of February at the latest; this is when the senate administration intends to present a cost estimate, a spokesman for the interior administration told the German newspaper “Der Tagesspiegel”. The market value of all apartments owned by private companies with at least 3,000 units, which are theoretically under discussion, is currently estimated at around €33bn. The initiative itself anticipates half of this at most, however, as compensations would not be paid at market prices. A recent survey showed that more than half of Berlin’s inhabitants are sympathetic to the idea of the initiative. The leftist party in the Berlin government also supports the project. A referendum for a “socialization law” will be launched in mid-April.


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