A joint report from the Ministry of Housing and the Ministry of Regional Planning was presented to the public on Monday afternoon.
Luxembourg currently has 5,000 hectares of land reserves to build, of which 3,750 can be used for residential purposes, explained the Minister for Spatial Planning Claude Turmes.
This means that approximately 300,000 additional people could live in Luxembourg. Currently, several construction projects are already underway, with the goal of building 142,000 homes.
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Planning Minister Claude Turmes noted: “These are impressive figures, and given that there is so much more room within the existing building parameters, there is no need to destroy more nature to solve the national housing crisis”.
A first phase will focus on filling literal voids in city centres, rather than at the border of villages and towns, which means that new buildings will first be built in areas easily connectable to public transport and not requiring more natural areas to be cleared.
Housing prices recorded an average increase of 16.3% between 2019 and 2020. This trend, however, is to be attributed to Luxembourg rather than foreign investors. 3,500 people own half of the land reserves to be built here in the Grand Duchy.
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