Tuesday 24 May 2022
Home EP European Greens want to limit home buying by investors

European Greens want to limit home buying by investors

Homes in Europe are increasingly being bought for large amounts by large investors and investors. This is apparent from a survey by De Groenen in the European Parliament.

Over the past ten years, large investors have bought 15 billion euros worth of homes in the Netherlands; in the entire EU they now own more than 1,700 billion euros worth of homes. They then rent out the purchased properties at large profit margins, driving up house prices.

GroenLinks MEP Kim van Sparrentak previously drew up a report on behalf of the European Parliament on how Europe can provide more affordable housing. ”This broad study shows how large investors deal with the scarce housing space.

Houses become investment objects to make big profits, instead of a place to live. Rather than counteracting this, the current EU rules facilitate this trend. The EU must recognize that it has a role to play in ensuring affordable housing as a fundamental right.”

The researchers mapped real estate transactions in several cities across Europe. She also discovered that buying up houses is increasing rapidly. For example, large investors now own three times as much real estate in Europe as ten years ago. “We see that house and rent prices are already going through the roof, while the study shows that the real increase in buying is still going on. We need clear rules for investors, as well as an occupation obligation and a rent ceiling.”

According to De Groenen, housing should be treated as a special asset class within the (tax-technical) social taxonomy plans of the European Commission.

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