Following the decision of the Federal Constitutional Court on the so-called rent cap, it is particularly important now to work together to develop solutions to the challenges posed by Berlin’s housing market. An index-linked rent can be a helpful approach to achieving transparent and consistent nationwide standards.
As it has up to now, Deutsche Wohnen will in future check rent levels with reference to the table of representative rents. In so doing, the company chooses not to use other comparators that are permissible as a justification for rent adjustments, for example the rents of comparable flats in the locality. As Lars Urbansky, Chief Operations Officer (COO) of Deutsche Wohnen, explains, “We take our social responsibility seriously and will continue to provide affordable housing. Moreover, in response both to the court decision on the rent cap and the current situation with regard to the corona pandemic, we have decided not to make any rent increases in the current year.”
Deutsche Wohnen is one of the leading publicly listed residential property companies in Europe. The business focus of the company is on managing its own portfolio of residential properties in dynamic metropolitan regions and conurbations in Germany. Deutsche Wohnen sees itself as having both a social responsibility and a duty to maintain and newly develop good-quality and affordable housing in vibrant residential neighbourhoods. As at 31 December 2020, the portfolio comprised a total of around 155,400 residential and 2,900 commercial units. Deutsche Wohnen SE is listed in the Deutsche Börse’s DAX and is also included in the leading indices EPRA/NAREIT, STOXX Europe 600, GPR 250 and DAX 50 ESG.