skomer Posted July 16, 2019 Share Posted July 16, 2019 Berlin City state is buying back privatized flats... Berlin’s mayor said the move was indicative of a wider strategy to reacquire housing stock sold to private investors in the 1990s, following rapid rises in rental costs in the city in recent years. “Berliners should be able to continue to afford living in the city,” said Michael Müller. “That is why it was and continues to be our intention to buy up apartments wherever we can, so that Berlin can regain control of its property market.” https://www.theguardian.com/world/2019/jul/16/berlin-buys-670-flats-on-karl-marx-allee-from-private-owner Price tag of £80m - £100m for 670 flats works out £119402 - £149,000 per flat... not sure if that is reasonable price for Berlin but Berlin often ahead on social trends so perhaps UK cities could follow (?) Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted July 17, 2019 Share Posted July 17, 2019 21 hours ago, skomer said: Berlin City state is buying back privatized flats... Berlin’s mayor said the move was indicative of a wider strategy to reacquire housing stock sold to private investors in the 1990s, following rapid rises in rental costs in the city in recent years. “Berliners should be able to continue to afford living in the city,” said Michael Müller. “That is why it was and continues to be our intention to buy up apartments wherever we can, so that Berlin can regain control of its property market.” https://www.theguardian.com/world/2019/jul/16/berlin-buys-670-flats-on-karl-marx-allee-from-private-owner Price tag of £80m - £100m for 670 flats works out £119402 - £149,000 per flat... not sure if that is reasonable price for Berlin but Berlin often ahead on social trends so perhaps UK cities could follow (?) I take it Germany didn't implement a ridiculous right to buy scheme? Quote Link to comment Share on other sites More sharing options...
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