North Rhine-Westphalia: loan to secure housing construction: cost increase

Düsseldorf (dpa / lnw) - The North Rhine-Westphalian state government is reacting to increased construction costs with supplementary loans.

North Rhine-Westphalia: loan to secure housing construction: cost increase

Düsseldorf (dpa / lnw) - The North Rhine-Westphalian state government is reacting to increased construction costs with supplementary loans. Investors who received a funding commitment last year can now subsequently apply to the responsible authority for their loan to be increased by 20 percent. This was announced by the Ministry of Construction on Friday in Düsseldorf. This should ensure that housing construction and modernization projects are completed despite cost increases and a lack of building materials and craftsmen.

"Only more housing construction helps to get rents, prices and price developments under control," emphasized Building Minister Ina Scharrenbach (CDU). Last year, more than 957 million euros were approved for 7,319 price-controlled housing units.

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