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Frankfurt and Vonovia Working Together for Climate-Friendly Housing at Fair Prices

“We think long-term and want our tenants to stay with us.”
Arnd Fittkau, Vonovia SE, CRO

A first for Frankfurt: In 2021, the City agreed regulations with Vonovia for sustainable living at fair prices. This is the first arrangement of this kind between the City of Frankfurt and a private company. In March 2021, the “Agreement on climate-friendly and affordable housing in Frankfurt” was signed by Vonovia CRO Arnd Fittkau and Peter Feldmann, Mayor of Frankfurt-am-Main. It aims to alleviate the current situation for tenants in Frankfurt’s housing market and to strengthen the social aspects of housing. Concrete measures and targets have therefore been drawn up. Vonovia will limit the average increases in existing rents to the level of inflation and to one percent for three years. It has also been agreed that new construction projects will include 30% subsidized housing. The two partners are also jointly involved in efforts to help people who are affected by or at risk of homelessness. In the long term, Vonovia will provide up to one hundred apartments for these people, who will receive additional assistance through the city’s social welfare offerings. The agreement also stipulates measures to ease the financial burden on tenants when modernization measures are carried out. For the duration of the pandemic, tenants also have access to generous provisions for the payment of rent.

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