Millions of German tenants have to adjust to rising housing costs: Germany’s largest real estate company, the Dax group Vonovia, considers significant rent increases to be inevitable given the high inflation rates.
“If inflation is permanently at four percent, rents will have to increase accordingly every year in the future,” said Vonovia CEO Rolf Buch to the “Handelsblatt”. Otherwise, many landlords would get into serious trouble.
“We can’t pretend that inflation will bypass rents. That won’t work,” Buch continued. The real estate giant owns around 565,000 apartments, most of them in Germany. According to the company, there are 42,000 apartments in Berlin alone.