Budapest wins EUR 5 million EU funding for housing programme

Budapest has won EUR 5 million in European Union direct funding for a social housing scheme, the Mayor’s Office said on Thursday.

Despite a housing crisis in Budapest, “the central government’s housing policy is failing to support the expansion of affordable and safe rented accommodation” which would be vital for reducing the effects of the crisis, the statement said.

A consortium led by the Budapest City Council won the EU support through the urban development scheme dubbed “EUI – European Urban Initiative” under the arrangements of the “New European Bauhaus” programme.

A total of 99 applications were submitted from 21 EU member states for support and the winners were selected through several rounds of assessments, the statement said.

The AHA Budapest project aims to expand affordable, safe and sustainable social housing with the help of the funding.

In cooperation with the consortium partners, a now empty former school building will be converted in Budapest’s 4th district into a residential building with 20 flats that will offer affordable and sustainable homes.