CHICAGO and LUXEMBOURG, July 11, 2024 (GLOBE NEWSWIRE) — Christie’s International Real Estate is planting a flag in Luxembourg through an exclusive partnership with leading Luxembourg realty firm 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, 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 is among the highest in Europe, according to Hornung. The luxury market typically ranges from €2 million to €5 million, and Unicorn recently sold a magnificent modern villa for €6 million.
“Demand for luxury homes remains strong, and home prices on the upper end of Luxembourg’s market are expected to remain high and stable,” Hornung says.
Hornung is a native of Luxembourg, hailing from the small northern village of Troisvierges. He grew up in his family’s hotel and restaurant businesses, then spent three years abroad, working in the hospitality industry in Austria and Paris – experiences which instilled in him a passion for client service. He returned to Luxembourg in 1991 and shifted his focus to interior architecture and then to real estate.
“When I launched Unicorn in 2004, my goal was to reinvent the codes of a classic real estate agency. Unicorn has lived up to that promise, serving customers with the highest level of personalized attention and an unequaled knowledge of the Luxembourg real estate market, but also a commitment to innovation,” Hornung says.
“Unicorn and Christie’s International Real Estate are built on the same values, including integrity, discretion, expertise and unrivaled client service, making this an ideal partnership” says Helena Moyas de Forton, managing director, head of Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) for Christie’s International Real Estate. “We’re proud to make our debut in the beautiful country of Luxembourg with Unicorn as our partner, and we look forward to sharing in their future success.”
The move strengthens Christie’s International Real Estate’s network throughout Europe, as Unicorn joins affiliates in more than 20 countries including: Belgium, Germany, France, Italy, England, Ireland, Switzerland, Austria, The Netherlands, and the Czech Republic.
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About Christie’s International Real Estate
Christie’s International Real Estate has successfully marketed high-value real estate around the world for more than 30 years. Through its invitation-only Affiliate network spanning nearly 50 countries and territories, Christie’s International Real Estate offers incomparable services to a global clientele at the luxury end of the residential property market.