The « Nordstross » and the Luxembourgish real estate market
On the 23rd
of September the approximately 31 kilometers long “Nordstross” will be opened after 18 years of planning and construction. The new motorway allows citizens to travel from Luxembourg City to the city of Ettelbrück in 20 minutes, which will very probably have an impact on the regional real estate market. The inhabitants of the northern part of Luxembourg enjoy a high standard of living with relatively low prices compared to the rest of Luxembourg and is less densely populated than the rest of the country, which allows its inhabitants to maintain a particularly calm lifestyle.
For the longest time, the lack of a direct connection between the north and the center has been one of the main reasons for the low housing prices in the northern areas. While the average price per m2
for an apartment near or in Luxembourg City
is 7560€, the northern areas offer average prices around 3600€.
Considering the increase in housing prices of 26% for apartments and 21% for houses in the last 8 years it becomes clear, that along with the new motorway come attractive opportunities for investors that offer exceptional potential.
Additionally, construction grounds are almost twice as available in the North (18%) than in the surrounding areas of the capital (10%) which creates new opportunities accessible even for limited budgets.