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Berlin (dpa) - The Berlin rent cap left its mark on the real estate group Deutsche Wohnen in 2020.
The contract rents remained at 837.6 million euros at the level of the previous year, as the Dax company announced on Thursday in Berlin.
The existing rent in the entire portfolio fell by 4.1 percent to an average of 6.70 euros per square meter due to the Berlin rent cap.
A decision by the Federal Constitutional Court on the constitutionality of the rent cap is expected in the second quarter of 2021, it said.
The operating profit (Funds from Operations 1, FFO1 for short) fell slightly by 1.6 percent to a good 544 million euros.
Nevertheless, the dividend is to be increased to EUR 1.03 per share.
A year earlier, Deutsche Wohnen had distributed 90 cents per share.
The profit for the period was 1.54 billion euros.
That was 3.5 percent less than in the previous year.
For the current year, the competitor from Vonovia, LEG Immobilien and TAG Immobilien expects an operating profit roughly at the level of the previous year.
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© dpa-infocom, dpa: 210325-99-962572 / 2