February 13, 2004

There Goes the Neighborhood

Ostblog notes that the law protecting renters with an old, GDR lease has been eliminated.. What's gone is the "Verwertungskündigung" clause:

Die letzte ostdeutsche Sonderregelung im Mietrecht hat ausgedient. Demnach sind Besitzer von DDR- Altmietverträgen nicht mehr besonders geschützt, wenn der Vermieter das Haus wirtschaftlich verwerten will, beispielsweise durch Verkauf, Abriss oder Umbau.

One more indication that the Post-Wende era is over, I guess. In someone's mind, anyway. I wonder how this will change rents, the urban landscape of the East, etc...I'm thinking specifically of a few especially ugly buildings on Kastanienallee that are just begging for someone to give them an expensive re-do after kicking out the current tenants. I'm sure I'm being alarmist, but it feels like this will turn into a real-estate speculation free-for-all.

Posted by Heather at February 13, 2004 04:13 PM

Comments