UPDATE 1-Top German court dismisses motion against Berlin rent cap

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KARLSRUHE, Germany, Oct 29 (Reuters) - The German constitutional court dismissed a motion on Thursday to suspend a new law that puts a cap on rents for apartments in Berlin, which can now take effect next month.

The ruling means the rent cap comes into force on Nov. 23, forcing landlords to cut rents for more than 300,000 tenants, according to media reports. Only apartments built since 2014 and public housing are exempt.

The constitutional court was asked to rule on the case after a Berlin district court found in March that the rent freeze law was unconstitutional.

The city state of 3.6 million people decided in January to freeze rents for five years, heeding complaints from many residents that their once famously affordable city was pricing them out.

The real estate industry has criticised the measures as unconstitutional, while some experts have said the rent freeze could worsen Germany’s housing crisis by scaring off real estate investors eager to build in urban centres. (Reporting by Ursula Knapp; Writing by Thomas Seythal and Emma Thomasson; Editing by Maria Sheahan and Thomas Escritt)