The European Parliament’s Green Party faction is urging the European Commission to implement measures addressing the escalating issues of rising rents and property prices across the EU.
A paper titled “Affordable, Sustainable and Fair Housing for All” as reported by Der Spiegel, outlines a set of proposals aimed at establishing legally binding frameworks. These frameworks would work towards achieving the UN-recognized target that individuals should not spend more than 30 percent of their income on housing, with low-income households ideally spending no more than 20 percent.
Furthermore, the Green Party is proposing the creation of a dedicated fund to finance loans for building renovations. They advocate for the exclusion of state expenditures in this area from EU debt rules. The proposal also allows municipalities to introduce vacancy taxes, designed to penalize property owners who fail to rent out available housing.
“Across Europe, more and more people are struggling to find affordable housing, therefore the EU must act” stated Green MEP Rasmus Andresen. The faction emphasizes the urgency of the situation and calls for swift action from the European Commission to tackle this growing crisis.