Despite the constraints provoked by the health crisis, the figures posted by the SNHBM’s report show positive results. A total of 300 housing units were built in 2021 and the construction of another 293 had begun. In total 1,076 accommodations were under construction with the support of SNHBM.
“It goes without saying that the health measures and extraordinary circumstances have had a considerable impact on the company's operations. SNHBM remained responsive to all the changes and unforeseen circumstances brought about by Covid-19 and, thanks to the exemplary commitment of all its employees, managed to continue its activities,”said Annick Rock, president of the board of directors.
The average subsidised sale price stands at €3,917/m2. Over the course of 2021, 7,494 people, including 1,951 new applicants have declared their interest in buying from SNHBM. The report cites an average rental price of €4.10/m2. Building more has become one of the developer's priorities, with its objective fixed at 50 additional units per year, but it still only has 427 units, which is well below the demand in Luxembourg.
The SNHBM’s report cited unavoidable delivery delays impacting construction activity and a difficulty in sourcing materials from abroad. Businesses being restricted by having people placed in quarantine or by health measures and the increase in the price of raw materials have also limited how far the affordable housing provider can go. This has also had an impact on construction costs which complicates the SNHBM’s task to facilitate the construction of less expensive housing.
SNHBM is now working with more than 30 municipalities to develop affordable housing. A new sales phase has just been launched in Belvaux, where 37 houses have been put up for sale as part of the Geessewee project, which comprises a total of 93 houses and 90 flats.
Some of the projects currently in development development include a collaboration with the Fonds Kirchberg, as part of the Kennedy Sud project, for which 230 housing units spread over nine buildings (six directly for SNHBM and three on behalf of the FUAK) will begin construction in the second quarter of 2023.