VELUX Identifies Potential for Up to 107 Million Additional Homes Through Better Use of Existing Buildings

VELUX Identifies Potential for Up to 107 Million Additional Homes Through Better Use of Existing Buildings

(IN BRIEF) VELUX Group has released a green paper and introduced its Re:Living renovation framework, arguing that Europe can address housing shortages, climate pressures, energy use and unhealthy indoor environments by making better use of existing buildings. The paper estimates that renovation, reuse, adaptation and more efficient use of existing homes could unlock between 50 million and 107 million additional homes across Europe, potentially providing housing for up to 246 million people. It also suggests that better use of existing buildings could avoid between 3.9 billion and 19 billion tonnes of CO₂ equivalent emissions over the next 50 years. Re:Living is designed to help make renovation more practical and scalable through four stages: Re:Think, Re:Scope, Re:Design and Re:Cover. The approach focuses on health, affordability and sustainability.

(PRESS RELEASE) COPENHAGEN, 6-Jul-2026 — /EuropaWire/ — VELUX Group has launched Re, a new renovation approach aimed at helping Europe make better use of its existing building stock to respond to housing shortages, climate pressures, energy challenges and unhealthy indoor living conditions.

The initiative accompanies the publication of a new green paper, The Housing We Need For The Future We Want, released as the UIA World Congress of Architects 2026 concludes in Barcelona.

Initiated by VELUX and developed with ARTELIA, BPIE, RISE and No Objectives, the paper examines how Europe could address several connected challenges by focusing more strongly on the buildings that already exist.

Across the continent, housing demand continues to rise while a large share of the existing building stock remains inefficient, underused, vacant or unsuitable for modern living needs. Europe is projected to require more than two million additional homes each year, while buildings account for around 40% of final energy use and 36% of energy-related greenhouse gas emissions.

Indoor health is also an important concern. VELUX notes that one in three Europeans is exposed to unhealthy indoor climate conditions at home, adding further urgency to the need for more effective renovation strategies.

The green paper argues that new construction alone will not be sufficient to meet Europe’s future housing needs. Around 85% of the buildings expected to be in use in 2050 have already been built, making renovation, adaptation, reuse and improved space utilisation central to the future housing response.

The research suggests that Europe could create between 50 million and 107 million additional homes by making more effective use of the existing residential building stock. This could provide housing for an estimated 115 million to 246 million people while reducing pressure on land, raw materials and energy systems.

The potential climate benefits are also substantial. The paper estimates that better use of existing buildings could avoid between 3.9 billion and 19 billion tonnes of CO₂ equivalent emissions over the next 50 years. At the higher end of the estimate, annual emissions savings would be comparable to the combined emissions of all cars currently on Europe’s roads.

To translate these findings into practical action, VELUX has introduced Re, a framework that extends the company’s Living Places concept into the renovation sector.

Re is designed around three core priorities: health, affordability and sustainability. The approach aims to make renovation more accessible and easier to scale for homeowners, industry professionals and partners by guiding projects through four stages: Re, Re, Re and Re.

The framework is intended to encourage a more systematic approach to renovation, moving beyond isolated projects towards repeatable and scalable models that can be applied more widely across Europe.

“Europe already has much of the housing infrastructure it needs. The challenge is finding practical ways to unlock its full potential,” said Lotte Clemmen Christensen, Senior Vice President in Buildings of the Future and Group Sustainability at VELUX Group. “With Re, we want to demonstrate how renovation can become a scalable response to some of Europe’s most urgent housing, climate and wellbeing challenges.”

The green paper identifies several approaches that could help expand housing capacity and improve existing homes. These include energy and comfort upgrades, bringing vacant homes back into use, converting underused non-residential properties, adapting oversized homes, changing how interior space is used, converting attics, extending existing buildings and applying low-carbon construction where new development remains necessary.

The research draws on a large-scale study by BPIE and partners for the European Commission. The study developed 10,000 building archetypes representing the European Union’s building stock and included lifecycle assessments for existing buildings, renovation options and new construction.

Using this model, the researchers assessed how the proposed housing and renovation measures could be applied across Europe’s 21 billion square metres of residential building space.

VELUX said the green paper is intended to encourage discussion among policymakers, researchers, the construction sector, building professionals and civil society on how Europe can expand renovation activity and make better use of its current housing infrastructure.

About the Green Paper: The housing we need for the future we want

The green paper identifies a range of measures, including refining existing homes through energy and comfort upgrades, reclaiming vacant housing, repurposing underused non-residential buildings, reshaping oversized homes, resizing how space is used, extending existing structures through attic conversions, building up or building out, and low carbon new build where new construction is needed.

The green paper builds on a large-scale research study by BPIE and partners for the European Commission, which developed 10,000 building archetypes representing the EU building stock. These archetypes provide one of the most comprehensive and detailed models of Europe’s buildings available today, including life cycle assessments of existing buildings, renovation scenarios and new construction. In this study, the same model was used to assess the potential impact of the proposed nine measures and estimate how widely they could be applied across Europe’s 21 billion m² residential building stock.

The green paper is published as an invitation to policymakers, building industry, researchers and civil society to discuss how Europe can scale up renovation and make better use of the buildings it already has.

Read the full green paper here.

About the VELUX Group
VELUX roof windows have been bringing daylight and fresh air into peoples’ homes around the world for more than 80 years, creating better living environments. We offer a range of products including roof windows and modular skylights, decorative blinds, sun screening products, and roller shutters, as well as installation and smart home solutions. They help create bright, healthy, and energy-efficient places for people who live, work, learn, and play under the roof. We work globally – with sales and manufacturing operations in 37 countries and around 11,400 employees worldwide. The VELUX Group is owned by VKR Holding A/S, a limited company owned by the Villum Foundation and members of the Kann Rasmussen family. In 2025, the VELUX Group had a total revenue of EUR 2.97 billion while VKR Holding had a total revenue of EUR 4.11 billion. The same year, the Villum Foundation and the VELUX FOUNDATION donated a total of EUR 306 million in charitable grants.

For more information about the VELUX Group, visit velux.com.

Media Contact:

Jason Breaux
Senior External Communication Manager
VELUX Group
jason.breaux@velux.com

SOURCE: VELUX Group