Our Research Director, Alice Pittini took the floor during the 84th Session of the United Nations' Committee on Urban Development, Housing and Land Management in Geneva to reflect on the future challenges ahead of housing affordability, the need for homes to be fit for the future, and availability.
She explained that the current context has been marked by increasing unsustainable costs for construction and renovation to which lately the increasing cost of financing and borrowing at higher interest rates have added even more complexity. In Germany, this unstable situation has led to cutting renovation projects by 1/4 and new construction by 1/3. In the case of France, the task to renovate 1.8 million dwellings by 2034 requires an investment of at least EUR7.5 billion, and in Austria, the cost of materials has increased by 38% from 2020 to 2022.
At the same time, housing has moved on top of the agendas of many governments. "Good ideas need to be repeated and we are very glad that we work with the UNECE and UN-HABITAT on the #Housing2030 best practices which are showing the right direction," Alice Pittini stressed.