The cost of the Renovation Wave | Housing Exchanges

The European Commission is currently in the final stages of the preparation of its Renovation Wave strategy, which will formally be launched, albeit after a slight delay, on the 14th October. It is therefore essential to visit again the question of the financial viability of the initiative for public, cooperative and
social housing providers at this very moment.

The Renovation Wave is being closely watched by many sectors, with a strong push for more obligations (renovation rates and standards) in recognition of the key role that buildings have to play in meeting the climate and environmental goals. However, little consideration has been given to the social impact and the burden that this might have on some sections of society.

Investment in social housing can achieve many goals: it can generate jobs, it can address fuel poverty, as well as meeting climate goals and the sector is a willing partner in this, fully aware of its responsibilities. The European Commission as a public entity has to consider both the social and environmental impact of its work.

We are still in a situation where long-term public funding is needed for the renovation of the building stock and to play a counter-cyclical role in the economy.

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