A couple of days ago, I found in my letter box this advertisement from a well know real estate agency belonging to an international network.
If you are resident, I am sure you have already received a lot of mail asking if you are selling you home to contact the real estate agency for a free quote.
Some agencies do not hesitate to provide high level priced estimation (if not to say out the market price) to make the owner sign the mandate for selling.
When I read this ad, I immediately thought “that’s crystal clear! the buyer is THE dumb”.
The Luxemburgish residential real estate market is a “seller market”, this mean that the housing demand is much higher than the offer available on the market.
This whatever we are talking about renting or selling. That’s why prices are keeping growing up quarters to quarters.
Currently, sellers are temporarily benefiting a lower level tax when they are selling: the margin they are making is taxed twice less than usual, this was applicable from last year first of July and till December 31st 2017.
The purpose of this temporary tax rate change is to make the market lore liquid by bringing new buildings and plots in the market and make the average selling price increase slower than the previous years. The future will tell us if this brung a benefit, although this measure does not bring new buildings at once.
To come back to the advertisement, dear friends, potential buyers, you are now informed! Better to prepare your argumentation before entering to negotiation!
Also prepare your financing scheme in order to be quicker at reacting when an opportunity pop up just in front of you!
You are seeking for a personal advice, a support in your home search, then this solution could make your life easier…