Name: Berlin Backs Referendum to Seize Properties From Mega Landlords
Uploaded: 2021-10-03T16:00:09+00:00
Duration: 17 min 14 s
Description: Voters have overwhelmingly backed a radical proposal to take properties away from some of Berlin’s biggest landlords and put them into public ownership. Just over 56 percent of people voted in favour

3 years ago

Voters have overwhelmingly backed a radical proposal to take properties away from some of Berlin’s biggest landlords and put them into public ownership.

Just over 56 percent of people voted in favour of a referendum calling on authorities in the German capital to expropriate flats and apartments from all landlords who own more than 3,000 properties. In total 1,749,923 valid votes were cast, with 1,034,709 votes in favour of the referendum’s motion, and 715,214 cast against.

Although the referendum is non-binding, it creates huge pressure on the state legislature in Berlin to act.

Campaign group Deutsche Wohnen and Co Enteignen, which helped organise the referendum, said it could lead to up to 240,000 apartments being bought off mega landlords, which represents around 15 percent of Berlin’s total housing stock.

Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.

https://www.vice.com/en/article/epnekk/berlin-backs-referendum-to-seize-properties-from-mega-landlords

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