“The housing affordability crisis in Europe has become a social crisis,” acknowledges the European Commission. According to Brussels' assessment, the European Union (EU) needs to add around 650,000 new homes per year over the next decade, at a cost of €150 billion per year.
The European Plan for Affordable Housing aims to improve access to affordable, sustainable, and quality housing through four strategic pillars:
- Boosting the supply of new construction and renovations
Under this pillar, the European Commission identifies three actions: strengthening the productivity, capacity, and innovation of the construction industry; cutting red tape to speed up the supply of housing; and combining affordability, sustainability, and quality in housing.
- Mobilising both public and private investment
The European Commission recognizes the need to mobilize additional public and private investment; enable faster and simpler public support for social and affordable housing; address short-term rentals, particularly local accommodation, in areas under housing pressure; tackle speculation in the real estate market; and drive structural reforms in Member States.
- Enabling immediate support to affected areas while driving reforms
- Protecting the most vulnerable, such as students, low-income and homeless populations
Next steps...
At the first European Housing Summit, to be held in 2026, the European Commission will launch a new European Housing Alliance to share best practices among EU countries and strengthen cooperation on housing policy.
Translated with DeepL.com (free version)
Image credits: European Commission | LinkedIn
