You have finally decided to buy property in Luxembourg?
Congratulations, we support your decision! You may however be wondering how much this decision will cost you. Various taxes, charges and fees will add up to your property acquisition costs.
To give you an idea, we have simulated a € 600,000 existing acquisition for a couple with a 10% down payment. You can of course adapt this to your exact situation by using Nexvia’s acquisition cost tool.
| PROPERTY PRICE |
- In Luxembourg, agency costs are payed by the seller
| € 600 000 |
| STAMP DUTY |
- 6% registration duties + 1% transcription duties
- €20,000 deductible tax credit per person (Bëllegen Akt)
| € 2 000 |
| NOTARY FEES || € 3 048 |
| MORTGAGE CLOSING COSTS |
- 0.29% registration and inscription stamp duty
- Notary fees
- Banking charge
| € 3 734 |
| TOTAL ACQUISITION COST |
| € 608 782 |
How about for an off-plan property?
There will be two major differences when buying off-plan:
- VAT: 3% on the construction part (more or less 65% of the property price) up to € 357,143 and 17% above.
- Stamp duty: Only applies to the land part (more or less 35% of the property price in Luxembourg City).