Living and working in Europe - 2024 edition

The document titled "Living and working in Europe - 2024 edition" is a comprehensive yearbook published by Eurofound, the European Foundation for the Improvement of Living and Working Conditions. Eurofound is a tripartite EU agency established in 1975, tasked with providing knowledge to support the development of social, employment, and work-related policies. The report outlines key trends and challenges facing European societies, focusing on various aspects including sustainable housing.

The document highlights the ongoing housing crisis in Europe, characterized by soaring housing costs and a lack of affordable housing options. Between 2010 and 2019, housing costs for private renters increased by 23%, with 46% of renters feeling at risk of losing their homes due to unaffordability. This crisis particularly affects low-income households and middle-income earners, who find themselves locked out of decent housing due to rising rents and property prices.

In response to the housing crisis, EU officials, including Commission President Ursula von der Leyen, have proposed coordinated approaches to housing policy. This includes the introduction of the European Affordable Housing Plan aimed at renovating 35 million buildings by 2030. However, there are concerns that without safeguards, these efforts could inadvertently raise rents and exacerbate housing insecurity for low-income tenants.

The housing crisis significantly impacts young people, forcing 75% of those aged 15-29 to live with their parents. This situation delays key life milestones such as moving out, starting families, and achieving financial independence. The report notes that young people often feel trapped due to high housing costs, with many expressing a desire to move out if they could afford it.

Income inequality remains a pressing issue, with public perception suggesting that it is on the rise, despite EU-wide data indicating a decline in income inequality over the past 15 years. The document reveals that while some Member States have seen a decrease in income inequality, others, particularly in southern and eastern Europe, have experienced an increase. This disparity is crucial as it affects housing affordability and overall living conditions.

The report also discusses gaps in social protection coverage, stating that around 66% of unemployed individuals in the EU do not receive any unemployment benefits or assistance due to strict eligibility criteria and administrative hurdles. This lack of support further complicates the housing crisis, as many individuals struggle to maintain stable living conditions.

Eurofound emphasizes the necessity for a broader, joined-up strategy to tackle the housing crisis effectively. This includes increasing the housing supply through new construction and renovation, improving the quality of existing housing, and ensuring access to essential services. The green transition offers an opportunity to enhance housing quality while addressing climate goals, with initiatives aimed at improving energy efficiency and reducing household energy dependence.

Overall, the report provides a detailed analysis of the complex interactions between housing, economic stability, and social well-being in Europe, highlighting the urgent need for sustainable housing solutions that consider the diverse needs of its population.