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Berlin residential property investor Phoenix Spree Deutschland said the value of its portfolio had risen 1.2% in the first half.
The portfolio was valued at €777.7 million at 30 June, up from €768.3 million at the end of December.
On a like-for-like basis, excluding the impact of disposals, the portfolio value increased 2.5%.
'This increase reflects an increase in market rents following the removal of the Mietendeckel, further progress in condominium splitting and improvements in the micro locations of certain portfolio assets,' Phoenix Spress said.
The Mietendeckel was a cap on rental increases which was removed after Germany's highest court ruled it was unlawful.