About hollerich

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Luxembourg: to buy or not to buy an appartement/house in Lux:

Hello, I moved to Luxembourg a few years ago and I still live in a rented apartment . Of course, I would prefer living in my own apartment/house, but the prices are so high that I would have take the mortage for ca. 20 years. I am 36 now. But when I continue living in a rented apartment for another 20 years, I will pay ca. 360 000 EUR for the rent...I don´t know what is the best solution for me. I am the only provider for my family - wife and 1 child, with the netto salary of 6000 EUR a month. I am also afraid of the real estate bubble in Luxembourg. There are new apartments being built everywhere now, the prices are rising... On the other hand, the economic situation of the whole EU is not so good...I am afraid that I will buy a property for ca. 400 000 EUR (which would be enough for a smaller apartment in Luxembourg) and five years later, the price will fall or so... What do you think? I have a stable job as an EU offical, but who knows what happens in a few years with the whole EU...Would you buy in my situation?

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10/2/2013

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