BRUSSELS, December 17. /TASS/. The issue of housing affordability in the EU is "topical and urgent," with nearly every fifth European currently at risk of poverty and social isolation, Spanish Prime Minister Pedro Sanchez stated.

"Meanwhile, 93 million Europeans, or every fifth, live at risk of poverty and social isolation. And this is not just the opinion of experts or organizations: about half of Europeans consider the housing issue topical and urgent," he wrote in an op-ed for the European publication Politico.

According to the prime minister, there are two main reasons behind the housing crisis in the EU. The first is that after the financial crisis in 2008, investment in housing construction dropped sharply, creating a situation where demand exceeds supply in the community. The second reason, according to Sanchez, is "housing speculation," where a flat is viewed not as a place to live but as a valuable asset that, for example, can be rented out to tourists.

The Spanish prime minister noted that Europe is a "bulwark of values supporting democracy, unity and freedom," but at the same time emphasized that all these values alone cannot provide a roof over one’s head. He added that "housing, which must be a right for everyone, has turned into a trap that defines people’s present, deprives them of a future, and poses risks to unity, economic dynamism and prosperity in Europe." Sanchez called for the implementation of "urgent measures" because the housing crisis is already "resonating across Europe" and becoming "a new factor of Euroscepticism." Europeans need "concrete solutions" immediately, the prime minister believes.

Earlier, the newspaper El Pais reported that the European Commission (EC) is finalizing the first package of EU measures to address the housing crisis, which affects many member countries. The plan is expected to include initiatives on regulating tourist rentals in the EU, making the rules of state aid more flexible, and allowing unused funds from the so-called fund of unity to be used for the construction of state or affordable housing. According to the publication, discussions are complex. Some capitals, including Paris and Berlin, have expressed doubts about the EC’s authority to propose measures on an issue they consider a national matter.