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The current real estate situation in Berlin is enough to give a CRE professional heartburn. A vote will decide whether the city confiscates apartments from any owner of more than 3,000 properties, according to a Wall Street Journal report.

The vote is likely to pass, according to the story, because people are angry about rising rents. And while confiscations are unlikely—the referendum is non-binding, and the city would go into debt for the roughly €36 billion to be paid for the 240,000 affected units—it could cause politicians to double down on existing regulations.

 

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