Housing is one of the world’s most important challenges both economically and socially, and this issue should stand at the center of international priorities, Yves-Laurent Sapoval, Ministerial Delegate for Sustainable Cities and Envoy for Urban Planning at the French Ministries for Territories, Ecology, and Housing, said during an event dedicated to the theme “The Social and Economic Power of Housing” organized on the third day of the 13th session of the World Urban Forum (WUF13), APA reports.
According to him, a large share of global wealth consists of real estate, with housing accounting for the main part of it.
“Housing is both an economic and a social issue. More than 50 percent of global wealth is real estate, and 60-70 percent of this consists of housing,” Sapoval said.
The French representative noted that the main priority today is preserving the existing housing stock and adapting it to climate change. He emphasized that due to climate change, many people will be forced either to relocate or to adapt their homes to new conditions.
Sapoval added that Europe’s aging population and demographic changes are also having a serious impact on housing policy.
He stated that another important direction is the expansion of social housing stock. Stressing that this is particularly important for workers and students, Sapoval highlighted the importance of ensuring easier access to employment and educational opportunities.
“One of the main issues is not to worsen existing problems while building new housing,” he noted.
At the end of his speech, Sapoval underlined the importance of innovation in the housing sector, stating that new approaches are needed to build sustainable and inclusive cities.
