Vonovia hits 2023 lows after Berlin election
German real estate firm Vonovia fell 1.7% to its lowest since June 2023 on Tuesday after results from the Berlin state election showed the far-left party Die Linke securing first place. Die Linke's lead candidate has campaigned on soaring housing costs and pledged to nationalize private housing associations. "Vonovia holds around 30% on its real estate in Berlin. More a question of sentiment vs federal legal facts, but sentiment and headlines are clearly negative today," Kepler Cheuvreux said. Peer TAG Immobilien and LEG Immobilien also fell.
7% to its lowest level since June 2023 after the Berlin state election results, where far-left party Die Linke finished first. Die Linke's lead candidate Elif Eralp campaigned on the rising cost of housing in the German capital and pledged to follow through on a promise to nationalize private housing associations. "Vonovia holds around 30% on its real estate in Berlin. More a question of sentiment vs federal legal facts, but sentiment and headlines are clearly negative today," Kepler Cheuvreux said.
65%.