European youth face mounting housing crisis as rents soar and supply shrinks

Europe’s housing market is deteriorating, with rent levels climbing dramatically and social-housing provision remaining minimal. Social housing accounts for just 6-7% of the EU stock, whereas 20% of dwellings are unoccupied, and short-term rentals have surged by 93% between 2018 and 2024. Young people—students, trainees and low-paid workers—are disproportionately affected, often paying more than their incomes for rent and being forced to live far from study or work centres.

The piece highlights Vienna’s Gemeindebau system, where over 60% of residents live in subsidised homes with rents of 5-7 €/m², as a model that could be replicated elsewhere. It also proposes converting unused buildings, regulating short-term lets, expanding EU-funded social housing, and supporting mobility programmes, including the garagERASMUS CITY initiative in Milan. The analysis stresses that affordable housing is essential for youth education, employment and democratic participation.