Political groups including the European People's Party, the Socialists and Democrats, and Renew Europe, voted through the report on the housing crisis in the European Union but failed to address the root causes of housing speculation, the European Green Party said.

“The housing crisis is the result of political choices - decades of policies that have treated properties as financial assets rather than homes. Young people in the European Union now only leave the parental home at an average age of 26 years. While younger generations are facing a housing crisis that locks them out of an independent life, the report does not even mention the impact of short-term rentals. Speculation, short-term rentals, and underinvestment in public housing are driving up costs,” said Vula Tsetsi, Co-Chair of the European Green Party. “In these times of high cost of living, young people deserve better than a report that looks the other way while housing speculation continues.”

Ciarán Cuffe, Co-Chair of the European Green Party, added:

“For a growing share of young Europeans, finding an affordable home is impossible. Many others struggle to pay their monthly rent. Today, the European Parliament fell short on the ambition needed to tackle the problem. Cities such as Vienna show us what is needed. We must massively increase investment in social and affordable housing, fight energy poverty, curb speculative property investment, and introduce clear rules allowing cities to regulate short-term rental platforms that are pushing up rents.”

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