Sherry Sideris is head of the immigration and relocation division at the Wirtz law  office. She spoke with Delano in June 2021. Photo: Matic Zorman / Maison Moderne

Sherry Sideris is head of the immigration and relocation division at the Wirtz law office. She spoke with Delano in June 2021. Photo: Matic Zorman / Maison Moderne

Canadian relocation expert Sherry Sideris, who moved to the grand duchy 17 years ago after living in the US and Germany, talks about getting into the Luxembourg property market.

Aaron Grunwald: You told me earlier that you wouldn’t recommend a fresh arrival buy a home straight away.

Sherry Sideris: Not that I don’t recommend them to buy, but if they don’t know Luxembourg and they’re just coming [then it is too soon]. First of all, they have to know how long they’re staying. So if you’re talking about young people in their early 30s, late 20s, odds are they’re not going to stay put. A little older, possibly, if they know this is their last stop. But they also have probation on their work contracts. So the banks won’t loan to them anyway till their probation periods are over. What we always recommended in the past was to rent for at least a year to know if you like Luxembourg, you want to stay, get to know the areas. Because if you just pop up and buy a house and you really don’t know anything about Luxembourg, you could end up in a completely different area [where] you wouldn’t want to be. Now, that was what we used to say. Since the pandemic has hit, it’s hard to give this guidance anymore because the housing market is zero here.

What is your advice then for someone who really wants to buy?

The first step is to get in touch with one of the real estate agents... a larger one that really knows the market, and let them know what they’re looking for. And maybe not just one, they can actually ask two or three... as you know, properties don’t even sometimes hit the market. It’s word of mouth here in Luxembourg. Also, I would highly suggest that they know what they can afford. Because you can have a house up today and it’s gone by tonight.

You mean do a mortgage simulation?

What we call pre-approval in North America. It’s not a term here... but it is best, because of the market moving so fast, to know, roughly, what they would agree [to loan] you.

Should you get a simulation from more than one bank?

Go with who you have your accounts. If you don’t like the answers, then you can also turn around and shop it.

What else is important to consider?

I would say point of transport. If they’re going to go rural, they’re going to have to come in with a car, [so] where are they going to park? That’s something to think about... good public transport. Mind you, Luxembourg has been very good with their public transport. And it’s even extended across the borders. So it depends if you’re used to com­muting to work or not. That’s another thing: people tend to say that it’s the young Luxembourgers that are going cross-border, but so do expats. They’re crossing the borders to buy also, because they realise they can get a much cheaper, bigger plot of land, with a bigger house. There’s been a lot of statements that expats can afford Luxembourg housing, that we’re the ones that can afford it. That’s not always true. [Just] because you’re an expat doesn’t mean you’re making zillions of dollars.

Do you see some big mistakes that people make over and over again when they’re looking for property?

I think the biggest mistake they do is comparing to their home countries. That is one of the biggest things. And that’s true in buying and renting. From my own experience, my first relocation was the US and my attitude was it’s no different than home. But I was moved to the Deep South and I come from Montreal... I always say it was my hardest relocation, because I just expected everything to be the same. And it wasn’t; it was quite different.  

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