German Federal Minister of Construction Verena Hubertz, a member of the Social Democratic Party, aims to simplify the process of families purchasing a home.
The minister emphasized the importance of making it possible for families to own a home with a regular income, recalling that this was the case for her parents’ generation. However, younger people face more difficulties, even with academic salaries, according to Hubertz. She believes that targeted programs are needed to help families achieve this goal.
To achieve this, the minister announced a review of the KfW programs, which support the construction or purchase of a property. The current multiple programs will be consolidated into a single one, with the goal of making the application process more transparent and efficient. This change aims to prevent the overwhelming complexity of the current programs, allowing families to focus on the actual process of acquiring a home.