NewsLiving in Hamburg: Right of first refusal no longer...

Living in Hamburg: Right of first refusal no longer effective – are Hamburg rents exploding even more now?

In Berlin, the city loses in court against a real estate company. This could have expensive consequences for the housing market in Hamburg.

Hamburg – Hamburg rents could now get even more expensive. A court ruling in Berlin could ensure that the city of Hamburg can no longer do much against real estate sharks who buy cheap apartment blocks and boost rents. * reveals here why the decision before the Federal Administrative Court for Hamburg tenants could be drastic.

In Berlin, a company went to court that appealed against a property pre-sale by the city of Berlin. This was granted. In the future, this case will set a precedent for all real estate giants who want to buy blocks of flats or land cheaply, renovate them luxuriously and displace previous tenants or increase rents sharply.

So far, the city has been able to make use of the property right of first refusal in such cases or, under the threat of this, oblige the buyer to certain purchase conditions such as low rents. That will be difficult in the future. The Hamburg Senate wants to hold on to the right of first refusal, the Left and the Hamburg tenants’ association are just as shocked. However, the FDP speaks of a right decision. The exact consequences for Hamburg can only be estimated after the written reasons for the judgment have been received from Berlin. * is an offer from IPPEN.MEDIA.

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