The Luxembourg City Film Festival has started its hybrid edi...
The City of Luxembourg wishes to actively contribute to the supply of a range of modern and affordable urban housing options for a diverse population that includes young households as well as families with several children.
With the "Baulücken" project, Luxembourg City strives to considerably reduce the price of housing and have a positive impact on the diversity of the people living in the target neighbourhoods.
To this end, the municipal authorities are working together with real estate developers to sell various plots of land as emphyteutic leaseholds. Luxembourg City remains the owner of these plots and selects future purchasers based on specific criteria. Housing units offered for sale are sold off plan.
The concept of "participatory housing" (which has already been tried and tested in other European countries) brings together individuals who take part in defining, designing, and building their own accommodation – including the different housing units and common areas – and then jointly manage the building.
To promote home ownership among persons who meet the eligibility criteria for home construction or purchase benefits, Luxembourg City regularly exercises its right of pre-emption over some of the affordable housing units that developers have not managed to sell, and puts such housing up for sale as emphyteutic leaseholds with the option to buy and obtain full ownership.
The housing units are sold new and in turnkey condition to purchasers, who thus become the owners of the units. The land attached to the housing units is leased by Luxembourg City to the housing owner-occupants as a 50-year emphyteutic leasehold, against a yearly payment. The City will give the leaseholder the option to purchase their share of the land, as of the 13th year of the leasehold, taken from the date of the lease.
Sign up through the link below to get our notifications, and you'll never miss out on the City's latest property sales!