The prices for the real estate in Luxembourg are among the highest in Europe. Living standards are high in Luxembourg with a home ownership rate of over 65% It can be difficult to find a property for sale in Luxembourg due to the high demand. An old apartment starts from 200,000 Euros. A newly built house starts from 400,000 Euros. Real estate sales commissions average 3% for both commercial and residential transactions. Commissions are typically paid by the seller. There is also a .7% notary fee in Luxembourg. Approximately 80% of all real estate transactions involve agents. The government in Luxembourg retains certain rights in real property. A sales agreement is concluded at the moment there is mutual consent between vendor and purchaser as to the identity of the asset sold, even if that asset does not yet exist, the transfer of ownership then being deferred, and as to the price. The price must be either already fixed, or determinable by reference to factors that are independent of the will of the parties. Oral sales contracts are possible, as a written contract is not necessary for the sale to bind the parties. If you want to list your Luxembourg Real Estate Properties for Sale, please do not hesitate to contact us. Real estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate.