Can a foreigner buy an apartment in Luxembourg?

Luxembourg is a small country in the heart of Europe that is attracting more and more foreigners. Indeed, its thriving economy, quality of life, attractive tax system and strategic geographical location make it a popular destination for many investors and expatriates. But can a foreigner buy an apartment in Luxembourg?

The answer is yes, foreigners can buy an apartment in Luxembourg. However, it is important to note that the purchase of a property in this country may be subject to certain conditions and formalities.

First of all, it is important to find out about the different types of property available in Luxembourg. There are condominiums and detached houses. Condominiums are the most common, as they are easier to manage and are often less expensive than single-family homes.

Secondly, foreigners wishing to buy an apartment in Luxembourg must obtain prior authorization from the Ministry of Justice. This authorization is generally granted without difficulty, except in certain specific cases. For example, the purchase of a property in certain protected areas may be subject to restrictions.

Once permission has been obtained, it is advisable to use a local estate agent to facilitate the search and purchase of the property. Choosing an estate agent can make all the difference in finding a suitable property and dealing with the paperwork. Foreigners can also use a notary to advise them on the legal and tax aspects of the purchase.

Finally, foreigners should be aware of the costs involved in buying a home in Luxembourg. In addition to the purchase price, there are notary's fees, registration fees and administration fees, which may vary depending on the value of the property.

In conclusion, it is possible to buy a property in Luxembourg as a foreigner, but it is important to be aware of the various conditions and formalities that need to be fulfilled. Foreigners can benefit from an attractive property market in Luxembourg, but it is advisable to surround yourself with the right professionals to facilitate the purchase process.