There is no Europe-wide standardized definition for affordable housing. The term ‘affordable housing’ is interpreted variously in literature and international policy; it encompasses a broad variety of housing systems and traditions in Europe.

The European Investment Bank defines the term “affordable housing” in the following way.

“The boundaries between social and affordable housing are not so clear-cut and may vary from country to country. In general, however, affordable housing is aimed at people whose income is too high for them to be entitled to social housing, but not sufficient to buy a property on the free market.” (European Investment Bank (2020): Social and affordable housing. Overview 2020, 2)