This drums feels very worn out now….if everyone is complaining why is nothing done?

Honest feedback?

https://today.rtl.lu/news/luxembourg/the-last-trimester-will-be-catastrophic-say-housing-experts-811973520

by Italian_Saffa_Boy

7 comments

  1. Yeah its a disaster for those who want to sell houses at stupid ass prices.

  2. There is a famous interview with Gaston Vogel which summarizes this type of behaviour very good, it is in general a problem in Luxembourg with people in high positions saying “mol kucken”.

  3. The real estate sector made a killing in Luxembourg when times were good, but now that things are getting tough, they’re crying wolf and begging for help. It’s as if they want the housing crisis to hurt the economy just enough to force the government’s hand, even though what we really need is stricter regulation of the whole industry.

  4. I bet the solution will be to build more buildings full of co-living units that can be rented out by companies. Surely this will solve things

  5. David Syenave is producing so much bullshit… First people dont say at EY because the salaries compared to the costs here are very bad. Pay more and people will stay. Second the VAT is not the main and sole problem for selling a newly build house, it is the uncertainty of what build quality you get, the ugly look of a whole city of white cubes and… An there is a reduction to the super-reduced Vat if the property is used as principal residence…

  6. Lux real estate market is really exhausting. They run in circle when the solution is right in front of their eyes.
    The article claims two opposite things:
    – new built crisis which hurts property developers (which implies a lack of demand)
    – there is a need for 6k new built per year (which implies a huge demand)
    So why is the supply and demand not happening? Because of prices of course. What is the solution proposed by property developers ? Less tax. Again . Which means that tax papers need to artificially maintain the high prices.

    The real solution is simple: adjust prices down to meet demand. How? By forcing land owners or owners with empty house/ apartment to the market. How? As we saw that the tax advantages were not working in the past 4 years (largely because it maintains prices that do not meet the demand, so only a few transactions can occur). So the only solution is to tax lands and empty places up to a long where 6k houses/apartments are put back to market.

    Note: I am by no way a communist. I really believe in capitalism (except for a handful of things like schooling and health sectors). But let’s be honest capitalism has partially failed in the real estate section since 2000.

  7. I admire people who are into buying any property in Luxembourg right now!

    For me main change from years ago is that even back then people where sceptical about never ending price growth, but somehow there was always enough people to take their chances… but now my entire social bubble simply see entire housing sector as scam! Low quality for premium prices in economy which is not robust and diversed enough to justify it.

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