The new affordable housing project in Alzingen, encompassing houses and apartments, was presented on Tuesday. Not even 24 hours later, ten people camped overnight outside the SNHBM to ensure they could be the first to register interest for the project.
The SNHBM's management team reacted with mixed feelings, stating they have never experienced such a situation before. Whilst they perceive the enthusiasm to show that their work resonates with residents, it is equally a sad sign of the housing situation in Luxembourg, says the SNHBM's director.
The SNHBM's policy was to prioritise individuals who live or work in the municipality. By 8.30 am on Wednesday morning, the business opened its office for all other applicants and had already received 120 applications by 9 am.
The main appeal is the price point of the project, as this is a third of the market price. A 100 square metre apartment will cost €330,000 and other prices in Alzingen are estimated at €10,000 per square metre.
SNHBM exclusively sells properties with empyteutic leases, meaning that only the apartments or houses can be bought and the land is leased for 99 years.
Tuesday night's situation shows that something must change in the sale procedure. Guy Entringer explained that the SNHBM must rethink its system, as this could lead to people queuing up two days in advance in the future.
The project only encompasses 14 houses and 21 apartments, which means that many of those who applied will be let down.
