What are the costs to expect when buying a property?

Other than the cost of the property fixed in a contract between the seller and yourself, other costs need to be considered:

• The costs of the deed (notary fees, other taxes due to the fiscal administration). In Luxembourg these rights are 7% of the sale price but a reduction is awarded by means of a tax credit, in case of buying a property to live in yourself). Pay attention, if you want to let the property, you will need to pay the entirety of the fiscal registration fees.
   
• The costs of the mortgage which comes with the notary deed and the inscription of it at the Mortgage Office.
   
• The cost of the mortgage file with the bank. These costs vary form one bank to another and are generally not very high.