Monday, 4 May 2015 - 18:22
Converting offices into homes to create 1,800 residences yearly
Converting offices, unused hospitals and care homes into housing can provide millions of euros worth of extra work for the construction and housing sector.In the best-case scenario, the program will help create an extra 1,800 residences a year, which should generate around 140 million euros in extra work, according to Economic Institute for Building Industry (EIB). Transforming vacant spaces could provide much needed housing, while creating up to 700 additional jobs in construction. The EIB made the calculation on the request of the MPs Roald van der Linde and Jacques Monach. The government wants to encourage conversion of empty office buildings into residential areas. The motion is to exempt the converted property from the rental tax. That could end up motivating the current owners of empty office spaces to convert the premises more quickly.