The Social Innovation Lab held in Torino brought together city leaders and experts from across Europe to address the urgent issue of housing affordability. As housing costs continue to outpace income growth, vulnerable groups, including low-income households, young workers, and students, are struggling to secure affordable housing. Essential workers, such as teachers, healthcare providers, and emergency responders, also face challenges affording housing within urban centres, despite their critical role in supporting communities. This widening gap places substantial pressure on cities’ inhabitants, many of whom face inadequate housing and energy poverty, which are further exacerbating existing social and economic inequalities in cities .
The housing supply shortage—worsened by reduced public investments since the 2008 financial crisis, the growth of short-term rentals, and real estate speculation—has created a €57 billion annual investment gap in affordable housing. Recent EU initiatives, including the forthcoming European Affordable Housing Plan, can provide new opportunities for cities to address these housing issues, though significant investment and policy support are still required.
The host of the Social Innovation Lab – the city of Torino, with its dynamic social innovation ecosystem, actively fosters affordable housing solutions with the support of social enterprises, by creating innovative partnerships, and leveraging finance. Besides learning from Torino’s experience, the Social Innovation Lab provided participants with a platform to discuss shared challenges, exchange best practices, and co-develop strategies for affordable housing. The insights and outcomes from these discussions will be used by Eurocities in its advocacy efforts at the EU level, highlighting the essential role of cities in addressing housing affordability and calling for further supportive policies.
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