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There are no restrictions of foreigners owning property in Luxembourg and the purchase procedure is very straightforward, but there is very little property on the market due to the fact that the country is so small in terms of land mass and has a population of a little under half a million inhabitants.

There is a cultural preference towards owning property in Luxembourg as opposed to renting and this can be reflected by over 75% of Luxembourgers owning their own home. The standard of living in Luxembourg is also of a very high standard and the country regularly scores highly in the Human Development Index, which rates factors including life expectancy at birth, the average adult literacy rate and the gross domestic product.

The property that does exist tends to be on the expensive side, which reflects the general level of prosperity that the Luxembourg has enjoyed over the years. The country has a reputation for attracting very wealthy individuals due to the country being somewhat of a tax haven and these individuals can price out the market for the average house hunter.

There is a similar situation with regards to rental property in that it is extremely difficult to fund, particularly on a short term let basis and what is on the market tends to rent for a high price.

Typical house pricing in Luxembourg City is as follows -

Two bed roomed apartment in Luxembourg City - €450,000
Three bed roomed detached house in Luxembourg City - €650,000
Five bed roomed detached house in Luxembourg City - €1.5 million

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