Inadequate and poor housing is costing EU economies nearly €194 billion per year in terms of both direct costs associated with healthcare and related medical or social services, as well as indirect costs such as lost productivity and reduced opportunities. The removal of housing inadequacies across the EU, or at least improving them to an acceptable level, would cost about €295 billion at 2011 prices. If all necessary improvements were completed at once, the cost to EU economies and societies would be repaid within 18 months by projected savings in healthcare and through better social outcomes. This is according to Eurofound’s new report Inadequate housing in Europe: Costs and consequences.
The report, requested by the European Parliament's 2013 resolution Social housing in the EU and based on data from the third European Quality of Life Survey (EQLS) finds that, although the quality of housing has been gradually improving in recent years, issues such as heating, insulation, structural problems and cramped conditions continue to affect a substantial proportion of the population in most Member States. These inadequacies have negative impacts on health, result in a greater vulnerability to accidents, and have a negative impact on productivity and economic output.
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