Hundreds of comments on social media and dozens of responses to our survey: the testimony of Christiane [altered name], a Luxembourgish woman who says that she will no longer be able to buy a home in the Grand Duchy at the age of 41, has provoked a flood of reactions.
“I think I’ve touched a nerve” laughs Christiane, whom our colleagues from RTL 5minutes contacted again in the aftermath of the article. “But I was expecting it, because it’s a subject that affects a lot of people, so it’s normal that there is so much anger,” she adds.
Indeed, most of the comments confirm this growing difficulty to acquire real estate in Luxembourg. Some people have even chosen to cross the border to find housing... But others also tell us how they managed to become homeowners.
Anonymous: “I have been a civil servant, category A1, for almost four years now. Single. Early thirties. I have saved 85 to 90% of my net salary since 2019 in the hope of being able to buy a flat, in vain for the moment. In the meantime, I am lucky enough to be able to live in a small room with my family to save money. With interest rates rising, the date when I can expect to move is getting delayed by months and months. I’m at the point where I’m thinking of taking a leave of absence and travelling for a few years with the money I’ve saved. In a few years’ time, I’ll probably have made a substantial personal contribution, but the idea of going into debt for 30 years with huge monthly payments to live in a 50-square-metre accommodation no longer appeals to me. Any dream of being able to start a family one day is evaporating.”
Inquiet: “With two minimum wages that me and my husband earn, it is impossible to buy in Luxembourg, because for €400,000 that the bank can lend we cannot find a house, we already have a child and a second one will arrive in four months. We are both 32 years old, moved here from abroad more than six years ago, saved money in the meantime to get a loan, but we are already desperate, because now we even have difficulties renting a bigger flat as our family is growing. Moving across the border? It’s also expensive to commute on a daily basis, it won’t work.”
Fat Abbot: “Except for a few details, I’m in the same boat as “Christiane” from the earlier article... I have a good salary, a permanent job, but I’m single and living alone... I’ve been renting the same flat for more than ten years, but if I wanted to buy one like that, it would cost me at least €900,000... which, given the insane conditions for granting real estate loans ... doesn’t allow me to buy one, given that the initial contribution required is already higher than the total of my savings!!”
TheMeckerKescht: “Work for the government or be a cross-border worker? Is that the solution? For those who judge: you have not understood anything! Not everyone can work for the government. To be a cross-border worker, to drive two to three hours, plus fuel costs, to be far from your relatives and that just to be a landlord? Wow! Or living with your parents to save your salary? This implies that the parents have to provide for them! Wow! Farewell independence. The problem is the price of real estate and the unattractive salaries in the private sector. Not to mention that not everyone is lucky enough to have a substantial personal contribution or to have been born into a wealthy family. In short, I assume that those who criticise must earn a good living and that they are [home] owners!”
Pol63: “The government has utterly failed! My son earns €3,700 per month with a 13th month, and he can’t afford to be a homeowner in Luxembourg! For 40 square metres, approximately €500.000, which corresponds to €2.100 per month over 35 years! The result is that the loan exceeds 40% of the salary, so REFUSED.”
Andy: “After living abroad for 20 years, I came back to Luxembourg, I’m 43 years old, single, and despite a gross salary of €6,500, it’s impossible to buy and get a loan for a decent place. So, I plan to go back abroad...”
Sara: “Not possible here in Luxembourg. Even with two people with ‘standard’ salaries, impossible with houses that are sold for €1 million... loans at the bank of €3,000-4,000 per month... Neither of us earns that amount on our own... So, we unfortunately had to buy in Belgium and leave our childhood country...”
Marie: “I was born in Luxembourg, I am a Luxembourger, and I had to come live in Belgium. Even with a salary higher than the minimum wage, it is difficult to live on one salary. While Luxembourg is still in my heart, it has become a country for wealthy people who need help from their families to buy property. It is sad that Luxembourgers have to leave their own country to have a roof over their heads.”
Lux Sux: “Buying a flat in Luxembourg is impossible. I think the country is no longer attractive, even for those who work in institutions. You can’t pay all that money ‘just because’ you are in Luxembourg. I tried to buy, but in five years I only found one flat that was good, the others I found all had faults (no lift, very low energy class, needing restructuring, or irregularly built). So, I am afraid that I will soon be forced to leave. A country where I can’t buy a flat is not a country where I can be free.”
STCH: “After crossing the border by a few metres, I was able to afford, not long ago, a spacious home with a large plot and a nice view for the price of a double garage in the Grand Duchy. In two or three years, I will have already paid off my loan. And I’m even closer to my workplace than before.”
Mag28: “My husband and I had a lot of trouble finding something. Married, three children, two good salaries working for a ‘big and reputable hospital’, the answer was still always ‘no’. But, a few years later, we changed banks and a miracle finally occurred, we were able to become owners of our triplex apartment. A word of advice: avoid Luxembourgish banks!”
Nostradamos: “I had the same requirements as Mrs Christiane, except for the lift. In reality I bought a one-bedroom flat in the City, without a garage or a nice terrace. The loan was for 15 years, but since owing money bothers me a lot, it was paid off after eight years. To tell the truth, this flat, which I acquired reluctantly, is now worth more than €700,000 euros. My requirements had to be reviewed, otherwise my situation would be completely different today.”
Sam123: “Maybe we should ask ourselves the question ‘might this lady have been able to do something differently?’ I would like to make the following proposal to young people. Stay with your parents as long as possible and save at least €1,000 per month, which corresponds to the following hypothetical calculation: if you start working at age 20 and find a partner by age 30, you will have saved €120,000. With this capital, and proof to the bank that you are able to save, you will be lent +/- €500,000. This will be enough to buy a house 25 km from the City. If you are a couple, you can borrow twice as much, provided that your partner has done the same! For all those who did not save when they were young, access to property becomes impossible! To evade parental authority at the beginning of one’s professional career by renting a house is to lose one’s chances to acquire a house. It is as simple as that.”
Nostalgia: “I was able to become a homeowner in 2005, a very old house in the south. But I never had the money to renovate it, yet I lead a simple and healthy life. On the other hand, I have gained this feeling of freedom and peace. The crazy price increase is pushing me to maybe sell and move far away from here. People are stressed out, exhausted, and getting into huge debt for overpriced property. In case of divorce or separation, this will become a social problem for some! As for becoming a cross-border worker, not even in my worst nightmares! Inefficient transport and horrible traffic jams, that’s not living! I’m lucky that I’ll soon have finished paying off my old house, but this country and the border regions no longer make me dream.”
Keelenspiller: “In 2008 I bought an 80m2 flat for €160,000 in Frisange, 13 km from Luxembourg City. [Christiane] had a budget of €220,000. I only read that [she] wanted to have the top of the top, Luxembourg City, at least 75m2, close to work etc. It is normal that [she doesn’t] own a house!”
Tu connais francky: “I was lucky enough to buy at the time of the euro switch, €186.000 euros, now it’s almost €1 million. For my kids, it will be almost impossible to find something decent for them.”
