Developers are planning to build the most homes in Germany since 2000 as refugees and young people in search of jobs move to Berlin, Hamburg, Munich, Cologne and Frankfurt. The government says about 350,000 new homes are needed each year to meet the demand -- a number that has been revised up as immigration climbs. About 1 million asylum seekers arrived in Germany last year, the most since World War II. Among the companies benefiting from the increased demand are builders NCC AB, Hochtief AG as well as landlords Vonovia SE, Deutsche Wohnen AG and LEG Immobilien AG, whose profits and stock prices have been steadily increasing as rents rise.

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