EU's First Affordable Housing Blueprint Unveiled

The European Union is set to alter its state aid rules to facilitate housing support initiatives, according to European Commission President Ursula von der Leyen. She conveyed this update during her State of the Union address to the European Parliament on Wednesday.

Von der Leyen indicated that, after gathering input, the EU will introduce its inaugural European Affordable Housing Plan. This plan aims to make housing across the continent more affordable, enhance sustainability, and improve quality.

These reforms reflect a significant policy shift in the EU's approach to housing, addressing concerns over rising costs and the demand for environmentally-friendly living spaces.

(With inputs from agencies.)