Walter Finch
THE European Union has taken the step of appointing a ‘housing tsar’ tasked with tackling the bloc’s property crisis.
High up on the agenda for Danish politician Dan Jørgensen, who’s been given the role, will be to attract investment in new housing and slashing the costs of construction.
This development offers a glimmer of hope for Spain, which has been grappling with a severe housing affordability crisis for years.
With soaring property prices and a shortage of affordable homes, particularly for young people, the Spanish government has been struggling to find solutions.
Jørgensen will be working to develop a comprehensive European Affordable Housing Plan, which could provide much-needed support for Spain and other member states.
His brief includes finding ways to streamline public subsidies for social housing – something that is sorely lacking in Spain.
He will also be expected to address the shortage of housing close to workplaces, and optimise the use of existing housing stock, which in Spain at least often consists of second homes that sit empty for months on end.
In a mission letter to Jørgensen, European Commission President Ursula von der Leyen highlighted the gravity of the situation.
“Millions of young people and families are struggling to find affordable housing across Europe,” she wrote.
“We must address this crisis by helping member states tackle structural issues and unlock both public and private investment.”
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By streamlining bureaucratic processes and attracting investment, the plan aims to boost the supply of affordable housing and make homeownership more attainable.
While the EU doesn’t have direct control over housing policy at a national level, it can play a crucial role in coordinating efforts and providing financial support.
One proposal has been to tap the European Investment Bank, for loans for affordable housing projects across the continent.
However, challenges remain. The success of this initiative will depend on several factors, including the willingness of member states to cooperate, the availability of funding, and the ability of the Commissioner to navigate complex political landscapes.
Nevertheless, the appointment of a dedicated Housing Commissioner is a positive step forward in addressing one of Europe’s most pressing social issues.
