Expropriations in Berlin could cost Europe's largest real estate company billions in losses - and yet it has enough problems of its own
Left-wing politicians see Vonovia as a "rental mafia". Many investors, on the other hand, think that the Bochum-based company does not make too much money, but too little.
The German city of Berlin is considering a large-scale expropriation of real estate companies, with the goal of putting their properties into communal ownership. Vonovia, the largest European real estate company, owns around 138,000 apartments in Berlin, worth €23 billion, and would be heavily affected by such a move. The company and others believe that fair market value would need to be paid in the event of expropriation, while supporters of the plan argue that compensation could be lower.
The proposed expropriation is part of a plan by the Left party, which won the most seats in the Berlin state parliament elections in September.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
