The European Commission plans to launch a new package of measures aimed at solving the housing crisis across the bloc, Irish television RTE reported.
Draft proposals show that EU fiscal rules could be relaxed to allow for more public spending on affordable housing, while tackling the impact of short-term rentals on the property market, AA reports.
While EU officials reportedly point to an annual need of 650,000 units to close the gap in the housing sector caused by rising construction costs and supply disruptions, the proposals also aim to reduce administrative burdens in the construction sector and reduce raw material prices and their easier availability.
According to a European Council report published in early December, one in ten Europeans is unable to pay their rent or mortgage on time, as real estate prices in the bloc have risen by an average of 60 percent since 2015.
