Construction sector Representatives plead for urgent measures to stimulate housing investments

According to representatives from the sector, businesses are jeopardised by this trend and struggling to construct all the homes required by the growing population.

The Artisan Federation and the Chamber of Skilled Trades and Crafts therefore demand temporary yet urgent countermeasures from the country’s leading politicians to stimulate housing investments over the next twelve months. These include:

• the creation of a special public fund to buy private projects that have been halted
• the reintroduction of the reduced VAT rate of 3% on properties for rent
• the increase of tax credit for buyers of a building for personal habitation, also known as the ‘Bëllegen Akt’ in Luxembourgish, from €20,000 to €30,000

The Federation and the Chamber lament that the government recently presented measures designed to stimulate the exact opposite which continue slowing down investments. They therefore submitted an extended list of demands to Henri Kox, the Minister for Housing, on Monday morning.

According to representatives from the construction sector, the government has stated that the situation is being analysed at present and that they will position themselves come February.