Der Einfluss politischer Rahmenbedingungen auf die Entwicklung des Wohnungsbaus

Influence of political conditions on residential building.

In spite of a minimal recovery in 2010, the number of residential building completions is constantly decreasing. Hence, the replacement of housing stock, which is required in order to meet objectives of social policy and climate policy, proceeds way too slowly. Residential building decreases because the return on investment is so low that subsidizing is required in order to straight the profitability curve which is characterized by high losses in the first years before the break even is reached. To the contrary, the instruments to promote residential building have been cut back in the last two decades. Furthermore, the developments of tenancy law, energy policy and taxation have led to unfavourable conditions for residential building. Residential building could be revived if declining-balance depreciation and a combined subsidy of stock replacement (demolition and new building) is introduced (again).