Berlin is growing rapidly, but rents and property prices continue to soar. The population of the city is growing by around 40,000 people a year.
Investors are making a killing, but tenants are finding new ways to fight back.
As Berlin grapples with rising property prices, scores of squatters have taken over several residential buildings. In response, the owner of one empty building was willing to grant them a lease — with certain conditions.
An extra 1.5 million apartments and houses must be built in Germany, says Chancellor Angela Merkel. Her commitment to alleviate rental and property price hikes and ease shortages is timed to be fulfilled by 2021.
Berlin property prices skyrocketed in 2017, outpacing all other major centers, according to a new report. Three other German cities also ranked in the global top 10.
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