Build Instead of Expropriate – for Everyone in Germany

The debate around the scarce resource of housing in Germany has gained significant momentum again in recent months. Discussions about expropriation and state-regulated solutions are dominating headlines in many places – overshadowing a far more important point: we need more housing. And we won’t create it through bans, but with excavators, cranes, and a bold commitment to investment.

As a real estate company, we witness every day what housing shortages mean in practice: rising rents, overwhelmed apartment seekers, and a strained market of existing properties. At the same time, we also see the potential that emerges when new construction projects are implemented efficiently and investors are not discouraged by excessive bureaucracy or tax hurdles.

Germany needs a construction offensive based on market economy principles. Targeted tax incentives – such as a temporary special depreciation allowance (10×10-AfA) – could mobilize private capital to invest in the purchase and construction of rental housing that remains on the market for at least ten years. This would quickly create urgently needed housing, secure jobs, and trigger a significant macroeconomic impulse that benefits everyone – including tenants with smaller budgets.

At the same time, the expected construction boom would generate a considerable side effect: billions in additional tax revenue – through property transfer tax, VAT on construction services, and corporate taxes from the construction industry. These funds could be directly allocated to social housing. In this way, private initiative would become a driving force for greater equity – and new construction would also benefit those who cannot invest themselves.

“Build instead of expropriate” must not remain a mere slogan, but should become a guiding political and societal principle. Because effective housing policy means more than just square meters – it represents stability, retirement security, social inclusion, and a perspective for the future.

At RHE Grundbesitz, we are committed to exactly these goals – pragmatically, responsibly, and solution-oriented. And we hope that political decision-makers will find the courage to rethink housing policy – before others once again score points with outdated ideas.

In this spirit

Ernst-M. Ehrenkönig · CEO & Managing Partner