197 projects in progress for the Housing Fund

In its 2023 annual report, the Housing Fund reports (Housing Fund) announced that it achieved a turnover of €28.2 million last year (down 10.76% year-on-year) and made a loss of €11.6 million. This is an increase in losses of 41.5% compared to 2022.

In 2023, 183 people were employed by the fund, 8.9% more than the previous year.

In 2023, the fund completed 85 homes and had 481 under construction. It also registered 1,587 applications for rental properties.

In total, the fund has placed 2,238 homes on the rental market for private individuals since its creation. These homes are spread across 49 municipalities, although Luxembourg, Esch-sur-Alzette, Differdange and Dudelange account for almost two-thirds of the rental stock. In addition, it has placed 1,736 homes on the market for sale to private individuals, spread across 27 municipalities. Homes in Luxembourg, Esch-sur-Alzette, Differdange and Dudelange accounted for three-quarters of the sales.

Chairman of the Board of Directors noted: “2023 also marks the strong start of the Housing Fund’s third major project, with the start of construction of eight residential complexes with 117 residential units in the Wëltgebond district in Mamer.”

The fund currently manages 197 projects in progress or in the planning phase, with a total of 4,825 homes. Of these, six major projects are particularly noteworthy: “Wunne mat der Wooltz” in Wiltz, “Neischmelz” in Dudelange, “Weltgebond” in Mamer, “An der Schmëtt” in Biwer, the “Cité Manertchen” in Echternach and the “Val St. André” project in Luxembourg. These major projects alone will create 3,322 affordable homes across the country.

Minister of Housing (DP) said: “With the implementation of the housing stimulus package voted by the Chamber of Deputies in May 2024 and which came into force on June 1, 2024, access to housing is supported, in particular access to affordable public housing. Through the Special Fund for Affordable Housing, €1.45 billion will be invested in the creation of affordable housing, either for rent or for sale, for the years 2024 to 2027.”

This article in French.