"Extended" shell construction for €350,000

Hello everyone,

my wife and I are currently interested in a property that is being sold as an "extended" shell construction including the plot of land. The shell construction is on Belgian soil, but the adjacent street already belongs to Germany. So really just behind the border. The construction is still ongoing, and we visited the construction site at the beginning of the week. We like both the location and the house very much.
Reason for the sale: On a total of 1350 sqm, 2 brothers planned 2 identical houses. One brother has withdrawn from this project, so now one house including half of the plot is for sale after the "extended" shell phase.

Extended shell construction means here exactly:
2-story house with 190 sqm area (flat roof) - solid construction
-no basement, no attic, no garage
-concrete staircase inside the house
-sewage pipes are already laid in the masonry
-no screed/electricity/plaster
-exterior facade is/is being done.
Right side of the house: masonry (20 cm) + 12 cm insulation + 9 cm clinker
Left side of the house: masonry (20 cm) + 21 cm insulation (painted white)
-including windows (plastic triple-glazed)
-including front door
-including 6000-liter rainwater cistern
-graveled driveway (2 parking spaces)

The shell construction is connected with respect to gas/water/electricity.
In this respect, the exterior facade, the windows and the connections are what the seller understands by "extended."

The associated 650 sqm plot has an approximate price of €85,000.

If you subtract the land value, a price of €265,000 is estimated here for the above-mentioned shell construction. I am also aware that the seller wants to make a profit on this sale. Nevertheless, the price still seems (significantly) too high to me.

I would be interested to hear what you think of this offer. Is the price realistic? If not, what would be a realistic price?

We are grateful for any feedback.

Best regards
Axel

I think the shell construction is calculated at 139€/cubic meter. You can figure it out yourself. I would say, very expensive (from the feeling)

That is of course difficult to say, since it is not known what trade costs are incurred in Belgium and what building standards are given there compared to Germany. Furthermore, a lot of construction, planning, and property law matters remain to be examined to ensure that this property complies with all local building regulations, has been granted a building permit, and would be sold to you free of encumbrances in every respect. In addition, I suspect that these houses were built privately and that some constructive "special solutions" can be expected there, which do not necessarily have to correspond to contemporary building standards.

Without having materially and legally fully examined and reviewed the object, I would be very cautious at first. The land may also need to be divided, with prior verification whether this is possible under planning law. The price is of course set high, but if the shell construction is very well executed by specialist companies (assuming verifiable structural engineering) and the use of demonstrably normal/high-quality building materials, it is presumably to be estimated in the range above € 200,000. A realistic price can only be calculated after a very detailed assessment and inventory.

As I said: I would exercise great caution.

First of all, thanks for the quick replies

I mean the shell is calculated at €139 per cubic meter. You can work it out for yourself. I would say, very expensive (from the feeling)

That would then be approximately 513 m³ ~ €72,000 with a ceiling height of 2.70 m. Besides the land, the exterior facade, flat roof, windows/doors, and connection to gas/water/electricity would also have to be taken into account, right?

The price is of course set high, but with very proper execution of the shell by professional companies (assuming verifiable statics) and demonstrably normal/high-quality building materials, it is probably to be estimated in the range above €200,000.

"Above €200,000." Do you mean the pure shell or the complete package with land here?

Thanks

Requested were the shell construction costs Cost Group 300 + 400. However, these already include parts of CG 200 (development), CG 500 outdoor facilities, and CG 300 finishing (facade/windows). Accordingly, costs above € 200,000 for these construction services would be expected in Germany with pure construction costs currently around € 2,000 - 2,200/m2 net living area. As stated: without detailed knowledge of the object, these amounts are pure estimates.

How do you want to finance the house? I mean, German banks have difficulties financing a property abroad, which it probably is.

No mortgage can be registered there.