housing
To combat the housing shortage in Spain, the left-wing central government has decided to end the Golden Visa programme for property investors from non-EU countries. The aim is to curb speculation, Prime Minister Pedro Sánchez explained in Seville on Monday. "We will take the necessary measures to ensure that housing is a right and not a speculative business." The Socialist politician said that the Council of Ministers would finalize the necessary amendment to the law on Tuesday in Madrid, but he did not give a possible date for the entry into force. The Golden Visa programme has allowed citize...
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Houses and flats in Germany last year posted their largest price slump since at least the start of the millennium shedding an average of 8.4% in value compared with 2022. "This was the sharpest year-on-year decline since the time series began in 2000 and the first decline since 2007," the Federal Statistical Office in Wiesbaden said on Friday. Prior to this, residential property prices had climbed steadily between 2008 and 2022. Banks expect the latest decline to end this year as interest rates fall again. In urban districts, the fall in prices for detached and semi-detached houses was as high...
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The Austrian government is planning to spend €1 billion ($1.08 billion) to boost the country's sluggish housing construction sector, Chancellor Karl Nehammer and Vice-Chancellor Werner Kogler announced on Tuesday. The taxpayer's money is to be invested to create 10,000 owner-occupied homes and 10,000 rental flats as well as on the refurbishment of 5,000 existing flats, they said. In addition, the governing coalition of Nehammer's conservative Austrian People's Party (ÖVP) and Kogler's Greens is looking to provide the federal states with money for low-interest housing loans. Meanwhile, the fees...
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The number of new homes built annually in Germany could fall by 35% by 2026 compared to last year, as experts warn of a massive housing shortage in the coming years. Germany is in a poor position compared to other European countries, according to a forecast published in Munich on Tuesday by the Euroconstruct research network. According to the forecast, only 175,000 residential units are expected to be completed in Germany in 2026 - 95,000 fewer than in 2023, according to the calculations. Only in Sweden is the number of completed flats in the 19 European countries analysed predicted to fall mo...
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