More and more owners are selling their apartments.
On February 23, 2020, the “rental cover law” decided by the Berlin Senate came into effect, which freezes rents for existing properties for five years and usually drastically reduces them for new rentals. The law will apply retroactively from June 18, 2019.
Many property owners are unsettled. The regional construction industry is already reporting order slumps, investors are turning away from Berlin.
Some owners would not have invested in Berlin if they had known that the Senate was introducing a rental cap. Now many are unsettled and want to sell their apartments quickly. This increases the ownership rate and the rental offer decreases.
The solution for you as the owner: sell your residential property while the prices are still attractive.