The Luxembourgish businessman believes that the length of the administrative procedures is the main reason behind the rising cost of housing.
Flavio Becca is a businessman and developer, who suggested the introduction of the tax on bureaucrats in Ban de Gasperich. Becca said that he’s not opposed to increasing the property tax or introducing a tax on speculation. It is because Becca wants to build. Becca is a Luxembourgish businessman who believes that the government should institute a tax that would be applied to the administrations in case it takes too long to resolve a case.
The increase in home prices to lengthy administrative processes, but the entrepreneur also says that he is not trying to make a quick buck. Just as the developer Marc Giorgetti had already explained to colleagues from RTL Radio, Becca also states that if a person was able to earn a profit of 20% for a construction project that it must be split into 20 years. Becca claimed that he owned plots on land for over 30 years, before any construction was done.
He also mentioned that he may consider integrating affordable housing into his plans, as long as the authorities allow him to build higher. The moment is, the opposite is often the situation, Becca bemoaned. In one instance, he referred to one instance in which the city of Luxembourg City did not allow him to build higher due to the fact that “it would have damaged the city’s skyline”. Becca added that “unlike other builders,” he refused to adjust his bills to inflation. Becca says that inflation is typically artificially manufactured. Steel firms “deliberately cut production” after steel prices fell according to him, in order to push prices to the next level.
The developer, best famous for his work on the new Ban de Gasperich neighbourhood, was also adamant to organize a tripartite meeting for the construction industry, where municipalities, the government and private developers would look for answers. In actual fact, Becca would prefer a quadripartite because “the banks must also be represented.” Becca has slammed Henri Kox, Housing Minister for “purposely excluding” the private sector.
Tram, Eric Lux and other legal issues
Our team from RTL.lu also talked with Flavio Becca regarding the fact that only one tram track of a planned section in Howald is currently in construction. This is due to the fact that part of the property is owned by the Olos Fund, which is currently in administration due to a dispute between the two business partners who were once in the same company, Flavio Becca and Eric Lux. According to Becca the administrator in interim and the public works administration are “on the right path” to come to an agreement. According to reports, the dispute was caused by technical issues.
Becca did not comment on his dispute with Eric Lux for the time being, insisting that the courts are “mature enough” to know what they should do. The two are fighting over EUR100 million in the Olos Fund.
Becca’s legal battle over luxury watches is still open to discussion. The Luxembourgish businessman has said he will take the issue to the Court of Cassation.
