The ESRB, the European Systemic Risk Board, which includes the heads of the European Central Bank, has drafted a warning against real estate prices in Luxembourg.

In its letter, the ESRB denounced real estate prices that never cease to rise as well as the increasing rate of household debt. In the medium term, the ESRB fears significant consequences for the entire economy of the Grand Duchy.

In reply to this, the Finance Minister replied that measures are already being implemented, that the country’s economy is under surveillance and that new steps will be taken in the light of market developments. He also reinstated that the phenomenon of rising property prices in Luxembourg is linked to demographic and economic factors that are constantly growing year-to-year.

Everyone will form their own opinion on the issue, but a priori the price of property in the Grand Duchy should still mean happy times.


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