Lower Saxony is pitching in: 700 new apartments by 2025!

Lower Saxony is pitching in: 700 new apartments by 2025!

Something big is happening in the area of ​​housing creation in Lower Saxony. The new state housing company Housing Lower Saxony GmbH, was founded in 2023 and aims to create more affordable housing. Their work is scheduled to begin in autumn 2024. The company will not build housing itself, but will specifically buy from companies, which should accelerate the creation of new apartments.

Managing director Sylva Viebach, an experienced civil engineer, emphasizes that a large number of additional apartments can be realized through the purchase commitment to private investors. One of the first projects is the Ehlers-Höfe residential complex in Hanover-Badenstedt, which includes both apartments and terraced houses.

Current challenges and ambitious goals

An estimated 147,000 apartments will be missing in Lower Saxony by 2040. In order to counteract this deficit, the company plans to prepare around 700 apartments by the end of 2023, which should be completed by 2027/2028. Despite the reduction in the budget from 500 million euros to 100 million euros, Viebach is optimistic. She emphasizes that with the available capital, many more apartments than originally planned could be created.

Currently, 85 apartments in Badenstedt and 67 in Göttingen have already been secured. However, the company only has five employees, which limits the ability to renovate large problem areas. Viebach therefore relies on collaboration with experienced companies in order to effectively promote new construction.

Political support and innovative approaches

The Lower Saxony state government supports the creation of affordable housing through various initiatives, such as the half-time balance in housing creation. The goals include social housing projects, densification in existing areas and sustainable neighborhood development. In order to make investments in housing construction easier, the funding guidelines for social housing funding have been expanded. Particular emphasis is placed on new construction projects with high energy efficiency.

In order to promote the construction of new apartments, NBank grants interest-free loans and subsidies for rental housing in the Efficiency House 40 standard. With this approach, the government not only wants to reduce housing costs in the long term, but also achieve a positive environmental impact. Last year, over 450 million euros in funding were approved to create affordable housing and stimulate the construction industry.

Sustainable future prospects

With the founding of the new housing company and the adjustment of the funding guidelines, Lower Saxony has taken an important step towards combating the housing shortage. The state government is also planning further measures to simplify the construction process and issue permits more quickly. In addition, an amendment to the Lower Saxony building regulations for 2025 is on the agenda to further support construction projects.

The challenges in the housing sector are great, but with creative approaches and sustainable planning, Lower Saxony will set the course for a better living situation. It remains exciting to see how development progresses.