Vonovia CEO Luka Mucic forcefully criticized the calls for expropriation of large real estate corporations during the Berlin election campaign. Speaking to Manager Magazin, Mucic stated that “socialization does not create a single new apartment, it does not reduce construction costs, and instead would tie up billions that are missing for new construction and climate protection.”
He pointed out that Germany currently lacks around 1.4 million housing units, and overcoming this shortage requires substantial private investment. According to the Vonovia chief, “To achieve that, we need reliability, legal certainty, and a stable investment climate.”
Mucic noted that the company provides housing at an average rent of €8.26 per square meter. He further countered the political discourse, saying, “Our new contract rents, averaging €10.80, are far from the €20 being promoted in political debates. This figure is demonstrably wrong and it fuels the anxiety of Berliners.”
The CEO stressed that future investments “will depend heavily on whether private property continues to be reliably protected.” Vonovia is reportedly the owner of approximately 138,000 apartments in Berlin, assets valued at over €23 billion.
