Strengthening Latvia’s Housing Affordability Fund

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EU Funded Note

The Latvian government established the Housing Affordability Fund in mid-2022, a long-term self-sustaining financing model to channel investment into affordable housing. The fund is now being scaled up to ensure lasting impact on the Latvian housing market. This report identifies options for institutional arrangements, funding and financing opportunities, and operational tools to achieve this aim. It draws on the rich and diverse experiences of four peer countries in establishing and operating revolving fund schemes for affordable housing (Austria, Denmark, the Netherlands and Slovenia), and also reflects findings from engagement with a range of stakeholders in the Latvian housing sector.


Operating a revolving fund scheme for affordable housing in Latvia

This chapter provides a comparative assessment of the management and monitoring of revolving fund schemes for affordable housing in Latvia and four peer countries. It outlines the main features of the approach in each country and proposes a series of recommendations and good practice cases for consideration by the Latvian authorities to ensure that the Fund contributes to the production and allocation of affordable housing, and that effective monitoring and control mechanisms of the Fund are in place to produce measurable results over time.


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