Berlin Senate approves five-year, citywide rent freeze

The Senate of Berlin has approved a five-year, citywide rent freeze in a bid to halt the city's skyrocketing rents, driven by increased demand that has attracted large-scale corporate landlords who have acquired swathes of properties and raised rents on them, pricing tenants out of their own neighborhoods. Next, the bill proceeds to the Berlin Parliament for approval; it is expected to pass, and will go in effect in January, and apply retroactively to June (heading off any last-minute rent-hikes ahead of the freeze). Read the rest