Housing prices in the EU for both renting and buying have been going up across the board since 2010, according to a recent publication by Eurostat. The data shows that from 2010 to 2021, average rent prices have gone up by 16%, while house prices have gone up by a whopping 42%. Modular homes have been floated as a low-cost, high-quality housing solution to help people experiencing homelessness transition to a permanent home.
In the Czech capital, housing costs approximately 150,000 Czech Crowns or roughly 6,500 Euros per sqm2. This means, owning a standard 70 sqm2 apartment would cost a staggering 455,000 Euros. Modular homes on the other hand are less expensive than building new affordable housing and generally cost 15-40% less to build than traditional, stick-built homes. In addition, modular homes have the ability to relocate and can be customized according to the customer’s needs and preferences.
In the capital of France, the average cost of buying a house soars over 500,000 Euros, making Paris one of the least affordable places in Europe to own a home. In addition, it takes on average 54 years for an average citizen to pay off for a home. Nearby in England exists a deficit of 4.3 million homes in the national housing market. It would require 442,000 homes to be built over a span of 25 years to tackle this problem. TopHat a developer in the UK is taking the initiative by building the largest prefab home facility which aims to deliver 4000 homes per year once completed and full operational.
Modularizing affordable housing is now seen as the way forward to combat the issue of homelessness. Companies are scrambling to adopt modular methods to claim their stake of this multi-billion-dollar business opportunity. The Modular for Affordable Housing by Trueventus is aimed to create a premier destination for construction industry professionals to gain insights and experience first-hand on the latest innovations and opportunities in modern methods of construction to streamline workflows, improve productivity, expand the scope of projects, expand access to data, enhance collaboration and generate stronger profit margins. Also, understanding emerging construction technologies that are becoming increasingly leveraged to aid the design and development of modular construction.