In a recent press statement, the Chamber of Real Estate rejected the notion that private developers are obstructing the recovery of Luxembourg’s real estate market. The Chamber’s estate development division firmly denied claims made by the Luxembourg Bankers’ Association (ABBL) in a recent Paperjam interview.
According to the Chamber, the ABBL’s portrayal of the crisis failed to reflect the complexity of the current situation. The real estate market is facing a crisis of confidence, driven by a combination of factors: rising interest rates, high construction costs, limited access to financing, and regulatory uncertainty.
The Chamber’s statement described developers as the actors most heavily impacted by the crisis. Despite operating under intense pressure, developers have continued to push projects forward, maintain jobs, and shoulder responsibility.
Looking ahead, the Chamber expressed optimism, pointing to the government’s recently introduced support measures. Rather than assigning blame for the downturn in recent months, the statement called for greater cooperation among all stakeholders in the real estate sector.
