Under the plan, initially drafted in June, rents will be frozen for five years from June 18, 2019, with the possibility of an inflation-related increase of about 1.3% only allowed from 2022 and very limited hikes allowed to pay for modernizations.
Rents in Berlin, for long far cheaper than in other major European cities, have more than doubled since 2008 as around 40,000 people a year have moved to the German capital, where some 85% of residents rent rather than own homes.
Investors don't care about people, only dividends.
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