Berlin’s rent freeze plan hits shares

Germany’s biggest residential landlords have declined on concern that the city of Berlin will freeze rents in the capital for five years in response to a surge in housing costs.

Shares in Deutsche Wohnen fell almost 9% in Frankfurt, while Vonovia shed 5.5%. As a result, the Stoxx Europe Real-Estate Index was the region’s worst-performing sector in the latest session, declining about 2.4%.