Vonovia sharply criticizes Berlin’s possible apartment expropriation plans
Germany's largest landlord Vonovia VNAn.DE on Wednesday sharply criticized the possible expropriation of apartments by a new state government in Berlin, calling it the "wrong way to go" and highly questionable legally.
Vonovia, Germany's largest landlord, has strongly criticized plans by a new state government in Berlin to expropriate apartments. The company's CEO, Luka Mucic, described the move as the "wrong way to go" and questioned its legality. Far-left leader Elif Eralp, who aims to become Berlin's mayor, has pledged to expropriate over 200,000 housing units from corporate landlords as part of her party's campaign.
This strategy failed to yield additional housing, according to Mucic, and would send a dangerous message about the economic strength of the country. The issue has gained traction in large cities like Berlin, which suffer from a housing shortage and soaring rents, causing widespread voter discontent. Critics argue that the debate over expropriation undermines trust in property ownership, investment, and Germany as a business location, potentially jeopardizing overall prosperity.
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