• Professional News
  • 18 September 2013

Prohibition against Berlin holiday rentals

New legislation is to put an end to a popular business model whereby Berlin flats are used as holiday rentals. The aim is to instead accommodate local residents.

During the 2000s when square meter prices were skyrocketing in most metropoles, prices remained low in Berlin making the city a popular real estate investment target.  Today, many of the flats purchased at the time are used as tourist holiday rentals.

Now, Berlin’s politicians wish to put an end to this rental trend, among others because Berlin is enduring acute housing shortage.

A new draft bill has been introduced to ensure that the majority of Berlin’s housing units are actually used for residential purposes rather than being changed into business leases or holiday rentals.

Two-year time limit
The draft bill proposes a two-year time limit for property owners to adapt to the new requirements becoming a reality if the bill is adopted.

The draft bill also opens up for allowing foreigners to own a house or a flat in Berlin provided that they, for example, sublet to permanent residents.

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