The housing market is perpetually in crisis, but for those with cash to spare, it’s a rare opportunity to find a buyer’s market, says Jean-Paul Scheuren, president of the Chambre Immobilière, Luxembourg’s chamber of estate agents.
The rise in interest rates, combined with the rise in the construction price index, is keeping would-be buyers away from their property projects in Luxembourg. On the other hand, the rental market is overheating.
The leader of the Luxembourg real estate chamber, Jean-Paul Scheuren, is calling for a job retention plan for real estate agencies, which are suffering the consequences of inflation. There are 1,221 such agencies in Luxembourg with a total of 1,750 employees.
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