Limited availability of housing. - The cartel authority approves the acquisition of a flat in Berlin.
In Berlin, two state-owned firms can now acquire significant real estate holdings from Vonovia, a real estate company. The Federal Cartel Office, an antitrust regulator, has deemed this potential acquisition permissible. They disclosed this news on Monday. "At present, approximately 1.7 million rental apartments are found in Berlin, with the state owning about 22% of them," noted Federal Cartel Office President Andreas Mundt. "The state of Berlin's proposal to procure around 4500 apartments, primarily in the district of Lichtenberg, from Vonovia is compatible with competition regulations."
The state-run firm would only slightly broaden its control over the Berlin rental market through this purchase. As of the end of 2022, it was reported that the state owned approximately 375,000 rental units, which accounted for roughly 22% of the total 1.7 million rental properties in Berlin.
Howoge Plans to Acquire 4500 Apartments
The housing development firm Howoge has its sights set on obtaining 100% of Prima Wohnbauten Privatisierungs-Management GmbH shares. If this acquisition is completed, Howoge's influence on the Berlin rental market would increase only slightly, around 22.4%. As per the Senate Department for Urban Development, Housing, and City Affairs' information, the targeted properties are found in the districts of Lichtenberg and Treptow-Köpenick, amounting to roughly 4500 apartments.
Furthermore, Howoge has been given the green light to acquire 100% of the city development company Buch's shares by the Federal Cartel Office. Buch owns a 40-hectare undeveloped plot in Berlin-Buch's Pankow district, where as many as 1200 apartments could potentially be constructed. For both projects, it is reported that the total acquisition cost is approximately 700 million euros.
