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Berlin's Biggest Landlord Has a Warning Over Soaring Rents
Berlin’s plan to control surging housing costs is diverting investment from the squeezed market even before a rent freeze comes into force, according to the city’s largest residential landlord. While German courts are likely to strike down legislation to control rents for five years, “the damage has already been done,” Philip Grosse, chief financial officer of Deutsche Wohnen SE, said in an interview at the property owner’s headquarters. The initiative by Berlin’s government has been sowing doubt since it was proposed in June and caused delays to “much-needed investments” in the city’s housing ... (full story)