Baku, Azerbaijan – Azerbaijan hosted an international forum to discuss the global housing crisis, amid growing warnings about the widening gap between property prices and income levels. The number of families struggling to access adequate housing has also increased worldwide.
The forum brought together government officials, economists, and representatives from international organizations and development institutions. Participants discussed the challenges facing the housing sector and the impact of economic crises, wars, and climate change on housing conditions in various countries.
Participants emphasized that the housing crisis is no longer a local problem confined to specific countries, but has become a global issue affecting millions of citizens. This is exacerbated by the sharp rise in building material prices, financing costs, and interest rates, in addition to the pressures resulting from population growth and internal and external migration.
UN officials pointed out that the shortage of housing units and rising rents threaten social stability in a number of countries. This is particularly evident in major cities experiencing rapid urban expansion. They stressed the need to strengthen social housing programs and provide more sustainable solutions for low- and middle-income groups.
The forum also discussed the impact of climate change and natural disasters on the housing crisis, noting that floods, forest fires, and rising temperatures damage millions of homes annually. This increases the burden on governments and underscores the need for environmentally resilient housing projects.
Participating economists emphasized the importance of encouraging investment in the construction sector, developing real estate legislation, and providing financing facilities for citizens. This would mitigate the crisis and help achieve greater balance in real estate markets.
Through this forum, the United Nations aims to strengthen international cooperation and the exchange of expertise among countries. It also focuses on developing long-term strategies to ensure the provision of safe, sustainable, and affordable housing, recognizing housing as a fundamental right linked to stability, development, and quality of life.
