Luxembourg to spend €150m to boost construction

Construction in Luxembourg (Leonid Andronov/Dreamstime)
Luxembourg’s government plans to bolster the country’s flagging construction sector with a €150m package of incentives, news site RTL Today reports.

To stimulate house building, it will offer a €20,000 grant to first-time home buyers before the end of 2024.

It will also raise the ceiling for projects that need to seek development approval from €40m to €60m, and make renovation financing available for nurseries and youth centres.

Money will also be funnelled towards energy-saving modernisations in buildings and €1.4m will come from the European Social Fund to increase skills for installing heat pumps and solar panels.

The announcements were made by Luxembourg’s Minister for Housing Henri Kox, Minister of the Economy Franz Fayot and Minister for Small and Medium-Sized Enterprises Lex Delles.

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