Press Release from 2014-09-30 / Group
KfW is introducing a government-funded grant to promote age-appropriate conversion
Joint press release issued by the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety and KfW
Starting 1 October 2014, both private homeowners and tenants will be able to benefit from Financial Cooperation grants, which aim to break down barriers in residential buildings and, at the same time, improve protection against burglary. The federal government will make a total of EUR 54 million available for this scheme by the year 2018. KfW's Age-Appropriate Conversion credit programme, which has enjoyed a great deal of success over the last five years, is therefore being expanded to include a grant variant. The grants can be combined with the energy-efficient refurbishment programmes.
The programme will launch on 1 October, designated "International Day of Older Persons" by the United Nations in 1990 to raise global awareness of the challenges and opportunities arising as a result of demographic change.
According to Federal Minister Barbara Hendricks, "the promotion of safety measures means that clients can now kill two birds with one stone and save costs in refurbishing residential buildings, as they only have to refurbish the property once. They can combine energy-efficient refurbishment with breaking down barriers in the home at the same time as increasing safety against break-ins."
"The new type of grant in the Age-Appropriate Conversion programme is a supplement to the KfW credit programme. We are promoting the barrier-free or low-barrier conversion of residential property so that older individuals can live independently in their own homes. This guarantees better living comfort and an improved quality of life, both for older generations and families with young children," adds Dr Ingrid Hengster, Member of the Executive Board of KfW Group.
The new grant programme implements the same promotional standards as the existing Age-Appropriate Conversion credit programme.
To name but a few examples, the programme promotes floor-level, modern showers, spacious rooms and even barrier-free and burglar-resistant street-level and entrance doors. Early conversion can be a preventive measure, both reducing the risk of older individuals suffering falls or accidents and making carers' work easier.
Private owners of one-family houses, two-family houses and owner-occupied flats, as well as tenants, are eligible to apply.
Maximum financing of EUR 4,000 per housing unit is provided for up to 8% of the eligible investment costs for implementation of individual measures, which can be combined to reduce barriers. As for the Age Appropriate House promotional standard, applicants can apply for grants for 10% of the eligible investment costs, totalling up to EUR 5,000 per housing unit.
Detailed information (including press material and diagrams) on the Age-Appropriate Conversion programme is available at