Südlingen real estate developer faces investigation after insolvency

A Luxembourgish couple has reportedly invested approximately 600,000 euros in a condominium in Südlingen, Germany, intended for their retirement, but remain unable to move in. The property, located in the Trier-Saarburg district, is currently uninhabitable due to a lack of electricity, heating, and sewage connections, as well as issues with moisture and flooding on the balcony.

The developer of the residential complex declared insolvency in April. While nine of the planned eleven units have been sold, the project remains unfinished. The public prosecutor's office in Kaiserslautern has launched an investigation into the real estate company and responsible individuals. The investigation is looking into allegations of bankruptcy fraud, fraud, and violations of the Construction Progress Guarantee Act.

The couple, who sold their home in Luxembourg to fund the purchase, is currently living in a rented house on the Upper Moselle. They expressed feeling cheated and are facing increased financial pressure due to rental costs. Two new investors have reportedly been found who intend to complete the construction of the apartment complex.