How much should I really pay for a property?
Arriving in Luxembourg for the first time and you may ask yourself how much should I really pay for a property?
Calculating valuations is an important role for agencies and there are many factors involved.
Firstly you can check the latest data from the government statistical office (STATEC) or the Luxembourg Housing Observatory, both of these organisations can give insights into the valuations from 12 months ago and a clue as to the trends you might expect to see within a geographical area.
Of course it is all about location, location, location and even more so with the increase in commuter traffic both morning and evening, means that every metre closer to key commercial areas can significantly increase the value of the property.
For some of our clients they have most appreciated combining access to Luxembourg city with proximity to green views and various villages such as Senningerberg, Contern and Steinsel have become desirable and although properties here offer more space than city centre locations, valuations of 1-2 million Euros and upwards are common. The challenge of living out of town is public transport, Luxembourg does have an extensive network of buses and the tram connecting Kirchberg to the Place de l’Etoile is popular however in the evenings or on Sundays if you live out of town, a car is essential.