Focus on North Luxembourg and its real estate assets to know about
27 Ιουνίου 2017
Reputed to be “less expansive” for its real estate, the North Luxembourg region is, however, rather uncrowded as it is too far from the “active life” of the Grand Duchy (city and South). Nonetheless, many properties are able to attract investors, first-time buyers and buyers/tenants in search of calm and clean air. A study conducted in the northern region tells us more.
What are the limits of North Luxembourg?
The study focused on the northern area above the Wiltz-Diekirch line. We are talking about the northernmost part of the country, and from which it takes more than an hour to reach the capital.
What are the advantages of the North?
Population density and the percentage of landowners are the main advantages, beyond the advantages and lifestyles offered by the countryside.
There are, in fact, fewer than 80 inhabitants per square kilometre in this region of the Grand Duchy, compared with more than 2,000 in the Luxembourg-City and Esch-sur-Alzette areas.
Up to 90% of inhabitants are owners of their own homes, compared with almost 68% nationwide.
A recent study (June 2017) by the Observatoire de l’Habitat (Housing Observatory) and STATEC found that, on average, it was necessary to have half the budget for the purchase of a house in the North in comparison with one in the Canton of Luxembourg. This is approximately € 454,000 compared with € 905,000. A price difference that is not inconsiderable for those wanting to buy and become the owner of a beautiful house.
Indeed, single-family homes account for up to 85% of the inhabited dwellings in this area, of which about one in ten is a farm or agricultural building.
North Luxembourg has many advantages for those who love the countryside. Come and discover it this weekend at the Foire Agricole d’Ettelbruck (Ettelbruck Agricultural Fair), an annual meet-up that brings together more than 30,000 people!
IMMOTOP.LU will have a stand there, and will run a contest with beautiful prizes to help you discover this beautiful region.
Rendezvous on June 30th, July 1st and 2nd at Ettelbruck !
Other recent articles:
State of rental markets, sales and real estate constructions in Luxembourg
Apartments for sale in Luxembourg: prices per m² without amenities
New figures from the Observatoire de l’Habitat - 4th quarter 2016
Evolution of interest rates in Luxembourg