Following the meeting of the Government Council (Cabinet) on Wednesday 30 August 2023, Luxembourg’s Minister for Housing, Henri Kox, and the Minister of Finance, Yuriko Backes, announced that five reservation contracts related to new apartments are in the process of being finalised.
These five projects located in Luxembourg City, Differdange, Ell, Ettelbruck and Steinsel concern 114 housing units for a total investment of €69 million. According to the ministries, the project’s details will be announced as soon as the deeds of sale are signed.
In the spring of 2023, the government proposed to acquire off-plan housing projects (so called “vente en l'état futur d'achèvement” - future sale of completion - or VEFA) for which the start of work is imminent, but which has been reportedly hampered by the lack of potential buyers.
According to Luxembourg’s Ministry of Housing, this approach aims to ensure the continuity of construction activity, to maintain jobs in the construction sector and to simultaneously increase the number of affordable housing units in public ownership.
Minister Kox expressed confidence that “among the offers for which analyses are still in progress, we will be able to identify several projects that fall within the scope of our specifications. Discussions for three additional projects involving more than 70 housing units are also ongoing.”
Minister Backes added that "these investments in affordable housing are not only a very useful opportunity for the development of the affordable housing stock, they above all make it possible to support construction and crafts companies in a difficult economic environment, in accordance with the government's commitments.”
