For this year and next year, the state will provide just under 740 million euros each for this purpose, as the building senate administration announced on Thursday. In previous years, this figure was around 500 million euros per year. From now on, the state subsidizes the construction of social housing projects in the most common funding model through public loans of up to 3550 euros per square meter, it said. Previously, the maximum loan amount for this model was 1800 euros per square meter.
More social housing for Berlin: Senate increases subsidy rates
The Senate has significantly increased subsidy rates for the construction of public housing.
Funding for up to 5000 social housing units per year
"We have made the financial provision to provide funding for up to 5,000 social housing units per year," Construction Senator Andreas Geisel (SPD) further announced. "Now it's a matter of ensuring that state-owned and private developers take advantage of the improved funding quickly."