Vonovia CEO warns of decades-long housing shortage - Vonovia CEO Warns of Severe, Long-Term Housing Shortage in Munich
Rolf Buch, CEO of Vonovia, has sounded the alarm on a severe, long-term housing shortage in Munich and its surrounding areas. The issue disproportionately impacts lower-income residents, including single mothers working in supermarkets.
Buch attributes the crisis to Munich's growing appeal, drawing both local and international residents seeking job opportunities and better healthcare. The trend towards urbanization is expected to intensify, further exacerbating the shortage.
The demand for housing far outstrips supply. Munich's city administration and other entities have proposed solutions such as expanding affordable housing, increasing urban development areas, promoting cooperative housing projects, and enhancing public transportation. However, these measures have not kept pace with the growing need.
Buch suggests speeding up approval processes and reducing construction costs through methods like serial construction and lowering building standards. He highlights the urgency of the situation, noting that there are 800 applicants for a single apartment in Munich or Berlin.
Rolf Buch's warnings underscore the critical housing shortage in Munich, which disproportionately affects lower-income residents. With urbanization trends intensifying and demand outstripping supply, swift and innovative solutions are needed to address this pressing issue.
