Commission’s Affordable Housing Act risks putting investors before people

Today, the European Commission published its Affordable Housing Act, which aims to address Europe’s housing crisis. However, the proposed text fails to match the scale and urgency of the crisis. While its goal is to provide legal certainty on measures concerning housing, its primary focus remains the functioning of the market rather than people’s access to affordable, decent and secure housing. The Greens/EFA call for a stronger Affordable Housing Act that recognises rising rents, housing costs, speculation and financialisation as key elements of the housing crisis, preserves municipalities’ ability to regulate short-term rentals, strengthens public and non-profit housing, and ensures that public investment serves people rather than property speculation.

Gordan Bosanac, Greens/EFA MEP and HOUS Coordinator, comments:

“We are particularly concerned that the proposal could make it harder for cities to tackle housing speculation and short-term rentals. Europe’s housing crisis impacts its people, not the investors looking to expand their portfolios. When people can no longer afford to live where they work, the answer cannot be to give investors greater legal certainty while making it harder for municipalities to intervene.

“Under the Commission’s proposal, local authorities could face a maze of legal requirements before they can take action. This includes proving that short-term rentals have harmed housing availability for at least three years and that no other measure would work. This risks deterring public action, particularly when municipalities are facing wealthy corporate landlords and institutional investors. Housing must be treated as a human right, not as a speculative asset.”

READ OUR POLICY PAPER ON HOUSING HERE (Short Version)
READ OUR POLICY PAPER ON HOUSING HERE (Extended Version)