When I signed the lease for my apartment in Berlin, I popped the cork on a bottle of champagne, then told everyone I knew that if I were to ever leave this flat, it would be in a hearse. I am proud to be a life-long renter, like 85 per cent of Berlin’s residents, and I can’t imagine moving elsewhere either, even as purchase prices drop.
The lease I signed in Berlin is unbefristet, or on unlimited terms: I can remain in my home for as long as I like, without worrying about rising rents or evictions, which are strictly regulated and subject to intense scrutiny by renter unions.
But others — especially new arrivals — are not so fortunate. The asking rent for apartments on the market is up by more than 11 per cent in the past year, according to property portal ImmoScout24; for newly built homes, it’s up 20 per cent, a record increase.