Vonovia aims to be affordable and senior-friendly
Vonovia, Germany’s biggest residential landlord, has responded to the increasingly heated discussion of rising housing prices with a “reformulation of its business understanding”. In a statement released before today’s Annual General Meeting, the company has promised to build affordable housing, design housing suitable for elderly inhabitants, carry out ecological modernization measures and promote neighborhood involvement. Vonovia has vowed that at least one third of its existing apartment stock will undergo senior-friendly renovations before being let to new tenants. The aim is to allow senior citizens to “age with dignity” in their old neighborhoods and remove worry about being forced out due to rising rents. CEO Rolf Buch has expressly given tenants aged 70 and over “the guarantee that they will not have to move out of their apartments.” He adds, “We won’t speculate with building land or building permits; we will build new housing as quickly as possible after being issued the building permit. Where possible, we will use public subsidy programs to build housing that’s affordable.”
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