There are many new projects in Luxembourg, particularly in the capital where the majority of new buildings are located.
In March 2019, the average price of a new flat in the Grand Duchy is 582,676 euros (posted prices, all surfaces combined). Over the period 2018-2019, this average budget has seen a similar increase to older flats of +10%.
The price per square metre is now 6,885 euros.

Average new building prices

To invest in new buildings in Luxembourg, plan to an average price of 582,676 euros for a flat at the beginning of 2019 (all surfaces). As for old flats, the price increase is significant over the last 12 months: + 10%.
It is mainly the 1 and 2 bedroom flats that show the largest increase, respectively +11% and +12%.
The latter are, moreover, the most numerous on the market. They represent 70% of the real estate offer in the new construction.

Prices per square metre in new build

Average prices per square metre have also risen by 10 % over the past year. Today, the average price for a square metre has also risen by 10 % over the past year, a new flat is put on the market at an average of €6,885/m2. For the smallest areas (studio and 1-bedroom), the average budget is well over €7,000/m2, and even up to €8,500/m2 for a studio.

For a two-bedroom flat, the most common, the average price is €6,642/m2.

Finally, it should be remembered that although investing in new property is more expensive than in old property, this type of purchase allows you to benefit from certain significant advantages.

Source: atHome Magazine Spring 2019