MADRID (Reuters) -Spain will spend around 1.3 billion euros ($1.48 billion) of EU funds over the next 10 years on industrial projects to build badly-needed social housing amid soaring property prices and rents, Prime Minister Pedro Sanchez said on Thursday. The plan is to offer some 15,000 new homes per year, cutting construction times by up to 60%, and ultimately reducing an estimated shortage of 600,000 homes, Sanchez said. Only 5% of the homes in Spain are built using industrial methods, where a large part of a building is produced at factories and then assembled at construction sites, whereas in Germany at least 20% are built that way.
MADRID (Reuters) -Spain will spend around 1.3 billion euros ($1.48 billion) of EU funds over the next 10 years on industrial projects to build badly-needed social housing amid soaring property prices and rents, Prime Minister Pedro Sanchez said on Thursday. The plan is to offer some 15,000 new homes per year, cutting construction times by up to 60%, and ultimately reducing an estimated shortage of 600,000 homes, Sanchez said. Only 5% of the homes in Spain are built using industrial methods, where a large part of a building is produced at factories and then assembled at construction sites, whereas in Germany at least 20% are built that way.
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