According to the real estate association GdW, affordable housing is becoming increasingly difficult. It was said that an unprecedented crisis was looming. The association represents around 3,000 housing companies and cooperatives, which together manage around six million apartments in Germany. Above all, the increased interest rates, inflation and the long-term effects of the corona pandemic were causing problems for the industry, it was said, and there were also strict political requirements for more climate protection. “Under the current political and economic conditions,” companies “can no longer invest in affordable housing,” said GdW President Axel Gedaschko.
In view of this, only half of the target of 400,000 new apartments per year set by the traffic light coalition can be achieved; according to Gedaschko, only 200,000 new apartments per year can be expected. Last year, only a good half of the 160,000 rental apartments needed were completed. In social housing, it was only a quarter of the 100,000 units required. The government must do everything to keep energy costs affordable, according to the GdW.