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The average cost per metre square of an apartment under construction in Strassen was €7,994 compared to €7,895 in the capital
Buying a flat under construction cost more in Strassen than in Luxembourg City last year, according to figures published by Liser.
In their 2017 “Observatoire de l’Habitat”, Liser researchers found that between 1 October 2016-30 September 2017, the average cost per square metre of an apartment under construction in Strassen was €7,994 (within a bracket of €6,801-9,668) compared to €7,895 (within a bracket of €6,197-10,262) in the capital.
What is more, it is not the first time that flats under construction in the commune of Strassen were more expensive than those in the capital. “When looking at our yearly statistics since 2010, the average price of flats under construction in Strassen has been higher than in Luxembourg 5 out of 7 times,” Liser researcher Julien Licheron told Delano.
Licheron explained that Luxembourg city, Strassen and Bertrange were “in a common valuation area, where the price of a similar dwelling is not significantly different (except in very central parts of the city).” He further pointed out that Strassen was more homogenous than the capital, which has 24 separate districts.
So, what makes Strassen so pricey when it comes to real estate under construction? Part of the answer may be found in the fact that like the capital, Strassen boasts more foreign residents than Luxembourgers with a ratio of 59-41, according to figures for 2015.
This demand from the international community stems partly from the area’s proximity to the European School II in Mamer, the various other amenities in the area and its strategic location close to the city centre.
Real estate agent Danielle Funk of Immo Domus suggests, meanwhile, that the Strassen phenomenon is a result of clients looking for the next Belair, a desirable district in Luxembourg city. “Belair is the first choice of our clients. The high property prices there drive them to Strassen, which is a dynamic community, which is well-served by public transport and close to motorways,” Ms Funk said.
Sandweiler at number 3
The third most expensive commune for flats under construction was Sandweiler (€6,680 per metre square), also an international commune on the edge of the city’s boundary in the east. When it came to existing flats, prices redressed somewhat, with Luxembourg City stealing the top spot (€6,968), followed by Strassen (€6,656), Bertrange (€6,012), Steinsel (€5,699), Walferdange (€5,656), Mamer (€5,602) and Sandweiler (€5,555).