The issue of German real estate invest trusts (G-REITS) has already generated three years of heated debate in political and business circles in Germany - and it isn’t over yet. Ministers of the Grand Coalition of the Christian Democrat CDU/CSU and the Social Democrats (SPD) sit down for a frank discussion of the draft REIT legislation on Thursday, and investors – some of whom who helped keep G-REITs on the top of the agenda at the Expo Real trade fair in Munich last month - are to have their chance again later this month.
The issue of German real estate invest trusts (G-REITS) has already generated three years of heated debate in political and business circles in Germany - and it isn’t over yet. Ministers of the Grand Coalition of the Christian Democrat CDU/CSU and the Social Democrats (SPD) sit down for a frank discussion of the draft REIT legislation on Thursday, and investors – some of whom who helped keep G-REITs on the top of the agenda at the Expo Real trade fair in Munich last month - are to have their chance again later this month.
They will go through the legislation with a fine toothcomb at a meeting of the Berliner Immobilienrunde panel on 16 November. The panel has invited a range of experts such as Leo Dautzenberg, the Christian Democrat expert on REITs and Uwe Wewel of the finance ministry to dissect the issue from every angle.
What the exact details of the legislation will be by mid-November is uncertain as SPD finance minister Peer Steinbrueck has already been forced to make modifications to try to appease the left of his party. He has had to remove residential properties from the bill and he has reportedly adjusted the exit-tax rates. He will however come under pressure from Christian Democrat ministers to stick close to his original draft.
For more information on the meeting, contact Sonja Hagemann at info@sonjahagemann.de.year.