cecodhas housing europe madrid, 13/06/2014. about us the federation of cooperative, public, social...
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CECODHAS Housing Europe
Madrid, 13/06/2014
About Us
The Federation of cooperative, public, social housing
Network of national and regional housing-provider federations•4,500 public, voluntary housing organisations•28,000 cooperative housing organisations
41 members in 19 EU Member StatesManage 25 million dwellings
Vision: Access to decent and affordable housing for all in communities which are socially, economically and environmentally sustainable and where all are enabled to reach their full potential.
The cost of housing
EU citizens are confronted with the “scissors effect”: they spend more and more on housing while governments fail to support the affordable housing sector despite the growing demand.
Source: CECODHAS Housing Europe 2013, Rethinking investment in homes
• Changing housing demand
• Decrease in public budget allocated to social housing
• Reduced access to credit
• Restructuring of social housing providers and sale of the housing stock
The impact of the crisis
Financing social housing
Social/protection policies counted as social expenditure
It depends on history of affordable housing supplier
Better conditions if:•Public guarantee•risk sharing mechanisms•Good financial track records ….
• Public grants generally decreasing
• tax advantages
• Land at preferential price (or not)
• Community land trust,….• Or shared ownership…
DEMAND SIDE SUPPLY SIDE
Total cost
Households expenditure
Affordable price
Market price
Rent/share paid by tenants
Housing benefits
Equity/ own capital
Loan/bond
Subsidies
Land /Share…
Rent
Public support/expenditures
Public support as guarantee, preferential price…
Unlocking the access to the financial market for social infrastructure should be seen as a long-term investment
•Adapt the offer of financial products to the existing demand•Long-term affordable contractual conditions as a prerequisite to stabilize the housing market•Attract private financing through PPP models with societal added value
Our finance related proposals
• Austria: Long-term public loans.
• France, Finland and Germany: Loans with low subsidized interest rates.
• The Netherlands, Finland and some German Länder: State’s endorsement.
• England, the Netherlands: some operators have themselves graded by the rating agencies, assuring loans at better conditions.
• Austria and England: Mechanisms to share risks.
• Fiscal advantages to social housing providers in most countries.
• The existence of intermediary/dedicated sources of funding (such as “Livret A” in France) is proving particularly effective in shielding the social housing sector from the current turmoil.
Some existing practices
Unlocking of EU funds
European Structural and Investment Funds
1. Impose obligatory minimum percentages in the ERDF that must be invested in sustainable energy, including energy efficiency (from 12% for less developed regions to 20% for more developed regions).
2. More than double the funding allocation for Sustainable Energy and Energy Efficiency, to an estimated €23bn, under Thematic Objective n°4 “Transition to a Low-Carbon Economy”.
3. Expand the scope of eligibility for investments in energy efficiency in buildings beyond the ERDF to encourage investments also from the Cohesion Fund (where the housing sector was previously excluded) and the European Social Fund (supporting the up skilling of the labour force for green jobs).
4. Give the possibility to use Funds to set up Renovation Loans.
ERDF - European Regional Development Fund
• Ex: UNITED KINGDOM: The Housing Finance Corporation Limited (THFC) was allocated £12m from the London Green Fund (supported by the ERDF) in March 2013. – Loans to registered social housing providers– Up to now: 3 housing associations have secured overall
£50 million loan– Environmental requirement: level 4 of the Code for
Sustainable Homes
European Funding
Structural Funds, H2020, EaSI, ERASMUS +, LIFE +
Visit our webpage on EU Funds at www.housingeurope.eu
Financial Stability and Housing: 5th November at the European Parliament, Housing Europe Finance Watch joint conference
•The incentive structure within much of the banking sector has made ever increasing returns on investment the objective regardless of its effect in the real world. The financial system should serve the needs of the real economy. New regulation are all about protection of financial stability of banks.
•The role of the public sector in putting the basis for a balanced housing sector is justified as long as the supply and the demand sides do not meet.
•Purchasing power, reduced inequalities, and full participation in education and labour markets are politically desirable and can only be achieved if there is enough affordable quality housing to go around with the right mix of rental, owned, cooperative and shared ownership housing.
Looking forward
Our team
SORCHA EDWARDSecretary General
JULIEN DIJIOLPolicy Coordinator
ALICE PITTINIResearch Coordination
ALESSANDRO CESALEProject Officer
MICHALIS GOUDISCommunication Officer
ALICIA GOMES CAMPOSMembership Outreach and
Event Organiser
FRANCESCA ZAGANELLIProject Assistant EDUARD CABRÉ ROMANS
Research Assistant
Upcoming event
The City of Tomorrow:The role of affordable & social housing providers
3-4 July 2014, Versailles, France
More information on www.solardecathlon2014.fr
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