It is Wexford Rentals & Property Managements understanding that Germany’s Lower House of Parliament have now passed a law to limit rent rises in metropolitan areas to 10% above local averages when properties change hands.
Wexford Rentals & Property Managements see this as a bid to stop tenants being priced out of their local market. Germany has seen rents increase by 30% on average with some cities even seeing 40 % such as Munich! Half of Germans live in Rental Accommodation, resulting in a 46 % result for home Ownership. Therefore 5 million will be affected and pleased with these new rules. Tenants in Germany used to have to pay the brokers fee, this has also now changed, Landlords are now responsible!