The average Luxembourg commute to the office is a whopping 79 minutes. as concluded from a survey conducted by the Chambres de Salaries back in November 2018. If you thought this is because of the trans-border workers you would be wrong 70% of the respondents were Luxembourg residents.
Often when we meet people choosing their dream home, there is a trade between open spaces with green views and the commute to the office. So as commutes get longer, what does this mean for property owners?
For sure it places an upward force on prices within the city and neighbouring communes, but it also has encouraged property buyers to look at areas such as Olm, Dippach and Syren, slightly off the beaten track but desirable in terms of lifestyle whilst yet being close enough to our main office areas.
Many of the new developments in the Cloch D’or will spring to life in June and July with the arrivals of big new employers which will focus even more attention on Cessange and Howald and the new roads being built will be welcome to try and ease some of the congestion.
Our advice is as property valuations continue to rise, we recommend sacrificing space for proximity to the city, live in your newly purchased home for two years to maximise taxation benefits and then if needed rent this home whilst living elsewhere.