Berlin approved the expropriation of 240 thousand housing units to lower the price of rents | During a referendum organized this Sunday

Berlin approved this Sunday by referendum on expropriation of 240,000 housing units so that the State can regulate the real estate market, a very concentrated sector where speculation reigns.

The measure, in addition to the government’s purchase of 14,750 homes, is expected to have a significant impact as 80% of Berlin’s population rents their homes.

The referendum was held in parallel with the legislative elections which defined the political space which will succeed Angela Merkel, who leaves power after 16 years. With a total of 3,763 polls scrutinized, 56% voted in favor of the expropriation while 38% voted against.

Now, The initiative will go to the Senate, which must ratify whether or not it advances in the expropriation, which is covered by article 15 of the German constitution, which allows the possibility of having “land, natural resources and means of production, which may be placed under a regime of collective property or other forms of collective management. the method and amount of compensation ”.

The measure would reach companies that have more than 3,000 properties in their possession, What the real estate company Deutsche Wohnen, which has around 113,000 properties. However, according to some international media, there is the possibility of court presentations to prevent the expropriation from taking effect.

At the last moment, Berlin has gone from one of the cheapest cities in the region to a sudden rise in rents, a phenomenon that citizens attribute to the concentration that exists in the market. This month, after long negotiations, the state of Berlin bought 14,750 homes and 450 premises for 2,500 million euros, while in 2019 it had already bought 6,000 homes from the real estate agency Aldo Properties.