There are many reasons why one might want to move to Luxembourg. Low crime rates, a multicultural population, great infrastructure, a strong economy, lush landscapes, and a high standard of living to name just a few.
Naturally, more and more people from across the world are flocking to this country and calling it their home. In fact, this melting pot is growing at a rapid rate of about 12,000 new residents each year, proportionally this is the same growth as Manhattan in the 1920s.
If you are reading this, chances are that you want to move to Luxembourg, too!
Now, moving to a new city or country can be a daunting process. Where are you going to live? Who are you going to live with? Is it financially viable? What about the legalities? And taxes? Yikes!
Don’t worry. This article will walk you through all the basics of getting your own humble abode in Luxembourg.
How Expensive is Housing in Luxembourg?
The real estate market in Luxembourg is very active. With an increasing number of professionals moving here, prices continuously increase.
If you are considering to buy, according to the Observatoire de l’Habitat, you should expect to spend about 7,000-10,000 euros per m2 in the center of Luxembourg city. On the other hand, if you choose to rent, you’ll be shelling out an average of 1,650 euros for a one bedroom inside the city on a monthly basis (as per 2016 data). When talking about buying or renting, it’s also important to note the average wages. As of January 1, 2021, the minimum qualified social wage is 15,27€/h or €2.642,32 gross per month.
Despite huge tax incentives for first time buyers, these prices remain too steep for many.
What’s the Process of Moving to Luxembourg?
Whether you wish to rent or buy a house in Luxembourg, there are several websites (AtHome, Immotop) that offer a clear idea of prices. Alternatively, you can seek help from a real estate agency. Mostly, their fees cover searches and visits, as well as administrative follow-ups. An agency can be a real bonus if you would like to speed things up and they add that layer of trust to make sure that everything is legal.
Rental leases in Luxembourg usually last three years, following which it can be renewed. You’ll be required to pay a fixed deposit—three months of rent for a furnished flat, and two for an unfurnished one.
What About Other Costs?
The cost of utilities and groceries in Luxembourg is higher than in most EU countries. As per Expatica, electricity and water can cost you anywhere between €150 and €300 on a monthly basis.
Co-Living: The Solution to all your Real Estate Problems in Luxembourg
A fairly new take on an existing concept, co-living is a modern form of housing that values sharing, openness, community and collaboration. It challenges the notion that city living is expensive.
In simple words, co-living is a bridge between living alone and sharing your home—residents typically get a bedroom to themselves, along with access to fully-equipped shared spaces such as a kitchen and a living room. It is a great choice for international professionals, digital nomads, or really anyone that wants to get more for their money while have a great time with like-minded individuals.
Co-living comes as a relief for those that fancy living in Luxembourg, but are discouraged by the high housing prices. Vauban & Fort provides quality co-living arrangements across Luxembourg—these are homes that are designed for comfort, and for members that desire a high quality of life. With over 12 years of experience in flatshares for professionals, we pour our hearts and minds into creating awesome communities where our members live in a home, not just a random room in a house.
Vauban&Fort is a pioneer of Coliving in Luxembourg and has over 12 years of experience in flatshares for professionals in London, New York and Luxembourg. We apply our expertise and know-how to make sure our clients get the best possible housing experience in Luxembourg. You can find out more about Coliving here and if you have any questions, drop us an email.
Moving to Luxembourg? Here’s What You Should Know Before Taking the Leap…
There are many reasons why one might want to move to Luxembourg. Low crime rates, a multicultural po...Read More
Why I chose to co-live in Luxembourg
With an ever-increasing number of international professionals in the city, the traditional housing m...Read More
How to find a home
Welcome to Luxembourg! – or if you are not yet here, perhaps we can welcome you soon enough. You m...Read More
Top 10 things to know about flat sharing in Luxembourg
Finding the right flat share in Luxembourg can be challenging but here is the perfect guide to get t...Read More
What language is spoken in Luxembourg? Cultural and linguistic guide
If you are thinking of relocating to Luxembourg for business or perhaps you just need a change altog...Read More