Business sealed: Berlin Senate buys 14,750 apartments back |rbb24

The purchase of around 14.750 apartments by the state -owned companies Howoge, Degewo and Berlinovo has been completed after months of negotiations.This was announced by the participants - including the Berlin finance senator Matthias Kollatz (SPD) - on Friday as part of a press conference.

The three state companies pay for the package, which also includes 450 commercial units, to the previous owners Vonovia and Deutsche Wohnen.The purchase is done without the use of budget funds, it was said.

The transaction was certified on Thursday.Finance senator Kollatz spoke of a "contract with the future" on Friday.With the transfer to the municipal housing stock, the tenants would receive the necessary security that their apartments will be permanently in the inexpensive segment.Business is the largest of this kind in the capital for a long time.