The paradox of European housing
Enhancing abandoned housing stock for a solve housing disparity
This article explores the contrast in European housing, where the phenomenon of overcrowded housing coexists with a considerable number of empty or dilapidated homes. Indeed, behind every abandoned or empty property lies untapped potential, and it is necessary to recognize these opportunities in order to reduce housing inequality in Europe.
In Europe, we are faced with a housing paradox: on the one hand, there are many overcrowded houses, with people living in uncomfortable and insecure conditions; on the other hand, there are many empty houses, which are not being used.
Renovating these properties proves to be a complex challenge, often related to identifying their true potential. What is the real value of the asset? What possibilities for use can be explored? How much will need to be invested? What risks are associated with this process and how long will it take?
Overcrowded houses...
A stark reality emerges as we explore the statistics: in 2021, 17 percent of Europeans lived in overcrowded conditions. The percentage varies widely among European countries: Eastern Europe, Lattonia, Greece, and Italy have the highest rates of overcrowding, while in Finland, Spain, Belgium, the Netherlands, and Ireland this rate is less than 7.5 percent.
The causes of overcrowding are many, and include rising rental prices, which make it difficult for families to find affordable housing, and economic conditions that have led to increased poverty and unemployment.
... and empty houses
Yet, paradoxically, there are an estimated 10 million empty houses in Europe. The largest European stocks of empty houses are found in countries such as Italy, Spain, Greece and France. In Italy for example, these homes exceed 10 million units, corresponding to almost a third of all housing. Even in cities like Milan, where demand for homes is growing and prices are following, nearly 12 percent of homes remain empty.
Housing emptiness can be due to abandonment, when owners no longer have the ability to maintain them; real estate investment, when empty houses are owned by investors who hold them in anticipation of rising prices; and the absence of heirs of deceased homeowners.
Social and environmental consequences
Overcrowding and empty housing have both negative social and environmental consequences.
Overcrowding can have negative consequences for the health and well-being of people living in distressed conditions. In fact, it can lead to mental health problems, stress, family conflicts and learning difficulties. In addition, it can lead to increased consumption of energy and natural resources.
Empty housing, on the other hand, can contribute to a sense of social exclusion and increase crime. Empty houses can pose a danger to public safety, as they can be used as a refuge for criminals or as a receptacle for garbage, becoming true "urban rubble," which can be a source of pollution and a danger to public safety
Sources: Eurostat, Openpolis
Unlocking the potential of every abandoned property
To address the problem of overcrowding and empty housing, solutions are needed that take into account both social and environmental needs. Affordable housing is needed to meet the needs of families who cannot afford to rent housing on the private market. Urban regeneration interventions should be structured and aimed at redeveloping blighted urban areas to make them more attractive to investors and households.
At didimora, we believe there is potential behind these facades ready to turn abundance into a resource. Our commitment is to help owners identify this potential, using every opportunity to help reduce housing inequality in Europe.
To address this problem, technology can be a valuable tool to unveil the latent potential in any real estate asset. Our mission is to fuel the regeneration of dilapidated housing, helping to make our cities more attractive and the search for a new home more affordable for all.
