Property prices in sales continue to fall in the third trimester of this year. Rental prices, however, are rising by around 6 per cent on average, according to a report by the online platform atHome.
Affordable housing can be a reality - just look at Vienna. Here, social housing has a long tradition, and over 60 percent of the population enjoys capped rents. In return, however, there is an added tax to finance the model.
This tax, although historically having increased significantly, is generally uncontested and has become so widely accepted that not having it in place would be unthinkable for many, says Michael Ludwig.
After all, more than two-thirds of the Viennese are eligible for a flat on the public market, ensuring diversity in the neighbourhoods and a high quality of life.
LSAP seeks inspiration from Viennese model
Hoping to improve Luxembourg's quality of life through affordable housing, the LSAP has drawn many lessons from the Viennese model.
However, the situation is different here: Almost a third of Luxembourg's inhabitants live in rented flats, and among Luxembourgers who vote, only 14 percent. If you were to introduce a tax from one day to the next, as they do in Vienna, it would be difficult, says the Austrian mayor.
Nonetheless, investing in the social rental market remains a priority for LSAP candidate Paulette Lenert, so that Luxembourg can continue to attract a wide variety of workers.
After all, the Grand Duchy is dependent on its labour, and without affordable housing options, the country might lose its appeal and value. Even if the majority of voters do not rent, it is generally important for society to create neighbourhoods where people from a wide range of backgrounds live, she adds.
Déi Lénk hopes to freeze rent
Déi Lénk also see housing as one of their key election issues and have proposed a number of measures to combat the housing crisis. For one, they hope to freeze rents until a law is established that consistently regulates the market, says Line Wies.
Such a law should prevent rents from rising arbitrarily. Another measure is to substantially increase the public housing stock. Both Déi Lénk and the LSAP have clearly spoken in favour of this.