WHY DEMOLISH? : EAST GERMANY’S VACANT HOUSING.
||WHY DEMOLISH? : EAST GERMANY’S VACANT HOUSING.
||Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
||Close to 1,4 million flats are vacant in East Germany. Demolition is widely believed the adequate response. This paper argues that letting rents fall should be more attractive. Falling rents would permit households to reclaim, and hence benefit from, today’s vacant housing. Far from preventing, today’s abundant vacant housing could actually set off, urban redevelopment in East Germany.
||vacant housing; demolition; cross-subsidization
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