Because powerful people own huge amount of the properties of which the real estate market is consisted of. Unfortunately. I do not think the market will cool down if Luxembourg is doing economically well. Ever.
The Venn diagram of property owners and the electorate is almost a circle.
Luxembourg house market is fucked beyond salvation.
Blocking foreign people from buying makes no sense since it won’t change anything
Genuine question – are there a lot of foreign (3rd country national*) buyers in Luxembourg?
*it would probably be very difficult legally to ban “foreign” EU nationals.
Just tax the land values. That would both discourage speculation and allow income tax relief
Banning foreigners from buysing is a dumb and populistic move. Moreover it would not comply with EU block rules and regulation.
there is a big BUT, as the person with the moist points will get it…
What the government should indeed do is to invest and spur the construction of housing and roads at a rate higher than the net population growth (or at least workforce). The short sighted vision of these people is ridiculous they need to wake up to the facts that Luxembourg the sustainability of the country’s economy in the long term is in jeopardize under these circumstances. It is almost inhumane having thousands of young (and not so young) workers paying over 1000 euros to live in a shared house that barely has 1 bathroom for 4 people and 1 kitchen for 12.
And a surely unpopular opinion. Every time a new quarter is built, a green area gets wiped out, resulting in continuous loss of biodiversity. When will it stop? When Luxembourg Is going to become a huge skate park? This needs to stop. Don’t be fooled, prices are never coming down.
9 comments
Because powerful people own huge amount of the properties of which the real estate market is consisted of. Unfortunately. I do not think the market will cool down if Luxembourg is doing economically well. Ever.
The Venn diagram of property owners and the electorate is almost a circle.
Luxembourg house market is fucked beyond salvation.
Blocking foreign people from buying makes no sense since it won’t change anything
Genuine question – are there a lot of foreign (3rd country national*) buyers in Luxembourg?
*it would probably be very difficult legally to ban “foreign” EU nationals.
Just tax the land values. That would both discourage speculation and allow income tax relief
Banning foreigners from buysing is a dumb and populistic move. Moreover it would not comply with EU block rules and regulation.
yeah,, well that could be difficult
but there are other options, like from VdL.:
[https://www.vdl.lu/fr/vivre/logement/trouver-un-logement/acheter-un-bien-de-la-ville/a-vendre-15-logements-a-cout-modere-sous-forme-de-droit-demphyteose-a-gasperich](https://www.vdl.lu/fr/vivre/logement/trouver-un-logement/acheter-un-bien-de-la-ville/a-vendre-15-logements-a-cout-modere-sous-forme-de-droit-demphyteose-a-gasperich)
and
[https://www.vdl.lu/fr/vivre/logement/trouver-un-logement/acheter-un-bien-de-la-ville/revente-3-appartements-a-cout-modere-sous-forme-de-droit-demphyteose-a-muhlenbach-et-merl](https://www.vdl.lu/fr/vivre/logement/trouver-un-logement/acheter-un-bien-de-la-ville/revente-3-appartements-a-cout-modere-sous-forme-de-droit-demphyteose-a-muhlenbach-et-merl)
there is a big BUT, as the person with the moist points will get it…
What the government should indeed do is to invest and spur the construction of housing and roads at a rate higher than the net population growth (or at least workforce). The short sighted vision of these people is ridiculous they need to wake up to the facts that Luxembourg the sustainability of the country’s economy in the long term is in jeopardize under these circumstances. It is almost inhumane having thousands of young (and not so young) workers paying over 1000 euros to live in a shared house that barely has 1 bathroom for 4 people and 1 kitchen for 12.
And a surely unpopular opinion. Every time a new quarter is built, a green area gets wiped out, resulting in continuous loss of biodiversity. When will it stop? When Luxembourg Is going to become a huge skate park? This needs to stop. Don’t be fooled, prices are never coming down.