The seven concrete housing measures presented last Thursday by Luxembourg's housing and finance ministers are being welcomed by the construction sector as a step in the right direction. Their main objective is to revive residential construction, although industry representatives say additional reforms will be needed to increase building activity and address the country's housing crisis.
Anyone looking to buy a new build, whether an apartment or a house, will now benefit from additional tax measures. These include exemption from registration fees when purchasing off-plan, reduced notarial fees, and increased interest subsidies, especially for young families.
Roland Kuhn, President of the Federation of Construction Companies, noted that the accelerated depreciation, if guaranteed, and the 8% VAT are very important aspects, even if certain details might still have to be slightly adjusted.
Steve Vermeer, spokesperson for the Federation of Real Estate Developers, reckons that these measures are mainly targeted at private buyers, adding that they would have hoped that legal entities would have been considered, since many institutions, foundations, and companies also purchase property.
Tom and John can barely contain themselves at the albums about to drop: STROKES – Reality Awaits, on 24 July, CHARLI XCX – Music, Fashion, Film on 24 July, JUNGLE – Sunshine on 14 August, and WESTSIDE COWBOY – It Goes On on 21 August.
51 measures have been presented as part of Luxembourg’s river restoration efforts, aimed at tackling flooding, drought, and water quality
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