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Germany: 15,000 protest skyrocketing property costs in Berlin03:02

Germany: 15,000 protest skyrocketing property costs in Berlin

Germany, Berlin
April 14, 2018 at 20:13 GMT -00:00 · Published

According to police, 15,000 people protested the rising cost of housing in Berlin on Saturday, amid concerns over gentrification.

Berliners called on the city government to address skyrocketing housing costs since, according to a recent report, Berlin has had the biggest price hikes in the world.

Berlin property prices increased more than in any other major city in 2017 as a study from property consultancy Knight Frank recently reported.

The 'Global Residential Cities Index' found average property prices in the German capital increased by 20.5 percent, two percentage points more than Izmir, Turkey, which ranked second. In the German capital, rentals increased by three percent between 2012 and 2017 (TAG Immobilien AG).

Three other German cities ranked in the top 10: Hamburg had the seventh highest housing price increase at 14.1 percent, followed by Munich in eighth (13.8 percent) and Frankfurt in 10th (13.4 percent).

Germany: 15,000 protest skyrocketing property costs in Berlin03:02
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According to police, 15,000 people protested the rising cost of housing in Berlin on Saturday, amid concerns over gentrification.

Berliners called on the city government to address skyrocketing housing costs since, according to a recent report, Berlin has had the biggest price hikes in the world.

Berlin property prices increased more than in any other major city in 2017 as a study from property consultancy Knight Frank recently reported.

The 'Global Residential Cities Index' found average property prices in the German capital increased by 20.5 percent, two percentage points more than Izmir, Turkey, which ranked second. In the German capital, rentals increased by three percent between 2012 and 2017 (TAG Immobilien AG).

Three other German cities ranked in the top 10: Hamburg had the seventh highest housing price increase at 14.1 percent, followed by Munich in eighth (13.8 percent) and Frankfurt in 10th (13.4 percent).

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