The red Berlin Senate sold almost 200,000 urban apartments between 1990 and 2005 in order to fill budget gaps. In 2005 there were only 273,000 of the former 482,000 apartments in (East and West) Berlin.
For example, the sale of state-owned GSW with 65,000 apartments for 400 million euros to a consortium of international fund companies. In 2014, Deutsche Wohnen took over the Städtische GSW for 1.7 billion euros through a share swap.
Shortly thereafter, rents won by up to 20 percent.
After the 2018 financial crisis, the comrades admitted that this was “a mistake in retrospect”.
Since 2018, the State of Berlin bought properties on a bigger volume. This is done by the six state-owned housing associations and also by the Senate itself. The pot for this is 150 million euros and is to be increased by a further 50 million euros in tax money for commercial real estate. 70 million euros are planned for infrastructure sites, 50 million euros for commercial space, 20 million euros for culture.
In December 2019, the State of Berlin bought back almost 6,000 apartments of former GSW social housing. The purchase price of the apartments and 70 commercial units in Spandau and Reinickendorf: 920 million euros.
In July 2019, the State of Berlin bought around 670 apartments on Karl-Marx-Allee, the former GDR parade mile. How many tax euros this cost has not been published.