Engel & Völkers Licence Partner Luxembourg > Blog > Buying a newly built property in Luxembourg: advantages

Buying a newly built property in Luxembourg: advantages

If you are considering buying a property in the Grand Duchy, you are probably wondering about the nature of this major acquisition. Engel & Völkers Luxembourg is pleased to present you today with a detailed explanation of the advantages of buying a new property.

Energy saving

The purchase of a new project will allow you to benefit from real energy savings. First, new developments are designed to optimize their energy consumption. The construction, surfaces and orientation of the windows are designed to ensure a good distribution of heat in the home. Secondly, new developments, whether houses, apartments or villas, have the latest energy-efficient equipment to ensure low consumption. On the other hand, if you decide to buy an old property, you will have to consider an additional investment to bring it up to energy standards in order to avoid over-consumption.

It should be noted that since 1 January 2017, each new construction of a residential building in Luxembourg must correspond to a building with almost zero energy consumption (NZEB = Nearly Zero Energy Building), thus guaranteeing the energy performance of the property.

Ten-year warranty

It represents a significant security for the owner of the property. Indeed, it guarantees the home in the event of a defect and prevents major condominium works in the ten years following the acquisition of the home.

Reduced VAT rate

For the purchase of a principal residence, the purchaser benefits from a VAT rate of 3%.

Recording and transcription fees

They are higher for existing housing. Indeed, they are calculated according to the existing building and are therefore particularly low if the land is not yet built.

Our expert real estate agents in Luxembourg will be happy to advise you on the beautiful project of buying a property. Whether you wish to acquire a new or an existing home, our team is at your disposal to guide you in the best conditions.

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