Europe is staring at a dual crisis it hasn’t managed to solve. House prices across Europe have risen 60 percent and rents 30 percent over the past 15 years, while the number of building permits has fallen 20 percent. The European Investment Bank estimates the EU currently needs 2.25 million additional housing units, roughly 50 percent more than is actually being built. And yet the buildings that do get built remain among the largest sources of greenhouse gas emissions on the continent.
Between 2010 and 2024, construction costs in the European Union rose by 56 percent, and the European Commission expects housing demand to grow by more than two million units per year.
