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AP National Business

Berliners in favor of measure to expropriate 240,000 flats

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Published 3:55 AM

By KIRSTEN GRIESHABER
Associated Press

BERLIN (AP) — Voters in Berlin have backed a proposal for the Berlin city government to take over about 240,000 apartments worth billions from corporate owners to curb sharply rising rents in the German capital. The count of Sunday’s referendum showed that 56.4% of voters were in favor of the expropriation measure, while 39% were opposed. The nonbinding referendum forces the Berlin city government to consider expropriating big, corporate landlords in a radical move to cool one of Germany’s hottest real estate markets, where rents have become unaffordable for many residents in recent years. German news agency dpa reported Monday that the proposal would affect about 15% of rented apartments in Berlin. 

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