The house at Agnesstrasse 48 in Schwabing made it into federal politics three years ago. The SPD parliamentary leader at the time, Andrea Nahles, called the case an extreme example of how homeland in the metropolitan areas is coming under increasing pressure. “Citizens are being pushed out of their traditional quarters with luxury renovations and skyrocketing rents,” she said. That is “absolutely not acceptable”. Now, however, Agnesstrasse 48 could become an example of how politics can counteract displacement.
The former residents, that is the bitter downside, have none of it – they have long since been driven from their homes. In Agnesstrasse, it went the same way as in many other houses: A property was sold, the new owner announced a modernization, which in reality was a luxury renovation. Including rent increases by double or triple. At some point, the residents mostly moved out, worn out. They were “successfully disgusted”, as the former tenants of Agnesstrasse 48 once put it.
The owner wanted to sell the vacant house to another investor at a price of 35 million euros. But now the city wants to thwart the two of them and buy the house themselves. Not for the same price, but for 22.7 million. Ultimately, a municipal housing association should create affordable housing there again. A new law enables the city to buy the house at a reduced price, so to speak (even if there is no question of “cheap”, of course). The matter carries certain legal risks. However, the case could set a precedent – and put investors in certain places.
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