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A trusted partner for your VEFA project
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A trusted partner for your VEFA project
Are you interested in buying a property off-plan? To make your project a reality, it's essential to work with a solid, trustworthy partner. As a builder and property developer in Luxembourg for over a century, our company has developed recognised expertise in this field. How does a VEFA go at Félix Giorgetti? Find out from our Sales department.
What is a VEFA?
VEFA stands for Vente en Etat Futur d'Achèvement (sale before completion). It involves choosing a property off-plan or under construction.
How does a VEFA sale work?
The buyer signs a preliminary reservation contract. This sets out the terms and conditions of the sale. It is used to reserve the property, possibly with a deposit if construction has not yet started. The buyer then signs the notarial deed, also known as the VEFA, which officially transfers ownership of the land to the buyer.
As construction progresses, the buyer is required to make progress payments.
What are the costs involved?
It is important to consider all the costs associated with the purchase:
- 17% VAT, which is included in the sale price;
- registration and transcription fees
- notary's fees (between €3,000 and €4,000). When signing the notarial deed, owner-occupiers can apply for a "super-reduced" VAT rate of 3%, which applies to a maximum amount of €50,000.
Registration and transcription fees are 6% and 1% respectively. These are calculated on the share of the land and any existing buildings on the day the notarial deed is drawn up. It is therefore more advantageous to buy before the structural work begins.
Good to know: Depending on your profile (owner-occupier or investor), you may be eligible for government grants.
What are the advantages of VEFA?
The sooner you commit to a property, the wider the choice you'll have, whether in terms of orientation, surface area, number of rooms or floors.
You can also personalise the interior to suit your preferences.
Buying a new home also comes with a number of construction warranties to ensure that your investment lasts. The biennial guarantee comes into effect as soon as the work has been handed over, and covers any damage or defects in the minor works for a period of two years. Similarly, the ten-year guarantee protects against damage to the structural integrity of the building for a decade.
This also means that your property is fitted with the latest materials, equipment and technology, making it more efficient, less energy-consuming and more environmentally friendly. So you can enjoy peace of mind for many years to come!
Why choose Félix Giorgetti?
Félix Giorgetti is a specialist in construction and property development, renowned for the quality and reliability of its services.
Our expertise stretches back more than a century, from the design of our residential projects to their construction and turnkey delivery. When you choose a Félix Giorgetti project, you benefit from a direct, accessible and transparent point of contact throughout the project and even beyond, thanks to our after-sales service.
Customer satisfaction is our priority, and is reflected in the quality of our work.
How is Félix Giorgetti's accompaniment going?
Our teams work closely together. Once your deed of sale has been signed, the "Sales" team forwards your file to the "Buyer Management" department. Here you will have a dedicated contact who will guide you through every stage: drawing up technical plans (location of electrical and sanitary equipment), choosing materials in our showroom or from our trusted partners, managing bids, checking bids and technical feasibility with the building site, site visits... right through to handing over the keys. The interiors are impeccable, the exteriors are finished: our properties are ready to live in.
We can also look after the rental management of your property for you.
Our aim is to give you peace of mind!
Are you interested in buying a property off-plan? Have a look at our current projects
Do you have any questions?
Please contact usimmo@gio.lu | +352 49 44 44