Christie’s International Real Estate Enters Luxembourg Through Partnership with Unicorn Real Estate
Founded and led by 33-year real estate veteran Fernand Hornung, Unicorn offers a full range of services including sales, leasing and property management. The company’s 17 multilingual real estate professionals are divided between two offices: one opposite the Grand Ducal Palace in the capital of Luxembourg City and another in Luxembourg’s second-largest city, Esch-sur-Alzette.
Through the affiliation, Unicorn’s agents and clients will gain access to increased exposure for luxury properties, a global referral network for international transactions, an industry-leading marketing platform and exclusive partnerships, including with Christie’s venerable auction house. Christie’s International Real Estate’s close relationship with Christie’s, which is separately owned, adds another level of white-glove service for clients who want to sell or acquire fine art, collections and luxury goods.
“Our firm has been approached by many international brands over the years; however, Christie’s International Real Estate is the only one we’ve ever seriously considered because of their commitment to supporting independent brokerages like Unicorn,” Hornung explains. “Our mission is to focus on our clients, and this affiliation offers incredible benefits for them, including outstanding visibility for listings and a worldwide network, which is important in a multinational market like ours.”
Considered one of the founding nations of modern-day Europe, Luxembourg is one of the smallest countries in the world, yet one of the wealthiest. Only 998 square miles in size – slightly smaller than the U.S. state of Rhode Island – the country’s abundant green space, economic and political stability, and tax shelters, including a low corporate tax, have attracted the world’s top names in banking and business, as well as astute home buyers and investors from neighboring countries. Bordered by France, Germany and Belgium, Luxembourg has historically been a melting pot of cultures, and today, foreign-born citizens make up almost half of its population, according to Hornung. The country has three official languages, Luxembourgish, German, and French, which reflect its rich cultural diversity.
While the country is small, its population has grown steadily, increasing an average of 2.5% yearly over the past 20 years. This growth has driven up housing demand and, subsequently, prices. The average home price in Luxembourg has doubled over the last two decades and at €1 million (USD $1.075 million) is among the highest in Europe, according to Hornung. The luxury market typically ranges from €2 million to €5 million (USD $2.15 to $5.37 million), and Unicorn recently sold a magnificent modern villa for €6 million (USD $6.45 million).