BERLIN: Thousands of people Saturday joined marches across major German cities against"rental insanity" or Mietwahnsinn, which has sparked a popular backlash.
They singled out companies such as Deutsche Wohnen and Vonovia, which have bought thousands of buildings in a capital with one of the cheapest real estate prices in Europe.AdvertisementThe wave of gentrification and rising rents is provoking outrage and leading some to ponder radical solutions like expropriating housing from institutional landlords.
Of an estimated two million rental apartments in Berlin, Deutsche Wohnen owns 111,500, followed by Vonovia with 44,000. Singling out the big groups would"mean that about five percent of Berlin tenants will suddenly not have to pay much while the rest would have to keep paying just as much," he said. "When people learn about how many billions this will cost, many would see this differently," Berlin Mayor Michael Mueller said.
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