Nexvia, a Luxembourg start-up, introduces innovative “personal finance” tools for private individuals engaging in property transactions.

Nexvia is a new and free innovative platform that provides users who are looking to buy, sell or rent property with financial technology (FinTech) tools that facilitate their investment decisions.

On Tuesday, January 19, Pierre Clement, ex-director of Corporate Finance at PwC, announced the official launch of his new start-up – Nexvia – at a press conference in the offices of Nyuko.

The nexvia.lu website is initially offering easily accessible, free financial calculation tools for private individuals interested in buying, selling or renting a property. The tools, which combine finance and technology, are designed to facilitate decision making in real estate (property) investments.

Pierre Clement, Nexvia’s founder, said: “Investments in property often involve important financial decisions in one’s life. However, since real estate property not only involves the question of purchasing, but also touches on complex financial and tax issues, we believe that individuals deserve professional expertise and better access to information in order to make the right decisions. Nexvia provides support in making a financial decision in this area. In FinTech terms, we refer to these as ‘personal finance’ tools. Today, neither in Luxembourg nor its neighboring areas, does there exist a similar service offering such high performance tools that provide detailed estimates in property transactions and thus enable a clearer view of the long-term investment costs.”

Nexvia is the first provider on the market to propose complete and free evaluation tools that analyze all of the variables that could have an influence on the estimated value of a property and provide to its users an indicative valuation of their home or the home they intend to buy.

“With the other tools, we are able to analyze all of the relative costs relating to the purchase, holding and selling of a property (and/or related investments) without failing to take into consideration in our calculations personal tax factors in Luxembourg which can affect the costs. The principal objective of Nexvia is to help make property buying and selling a more positive, transparent and comfortable experience” added Pierre Clement.

Detailed description of the tools found on nexvia.lu

Pierre Clement’s start-up proposes various free tools accessible online.

1) The “Home Valuation” tool was developed in order to estimate the value of real estate property more precisely. The analyzed data on which the calculations are based come from STATEC and l’Observatoire de l’Habitat. The methodology is based on the market approach and evaluates the real estate property relative to the latest transactions in Luxembourg. The accessible data from these transactions evaluates the property in relation to two characteristics: the location of the property and its diverse characteristics. Regarding the location, the address, neighborhood, environment and proximity to public transport are evaluated. The property itself is then evaluated based on its quality, its size, number of floors, rooms, bathrooms and available parking (interior or exterior) for example.

2) The “Acquisition Costs & Monthly Charge” calculator allows a person online to determine the costs relating to the purchasing and financing of a property. The calculator enables the user to enter personal data concerning a property “X” that they wish to purchase, and automatically estimates the total purchasing costs and monthly charges incurred during a hypothetical credit period. Concerning the purchase costs, the calculator will determine the various taxes, fees and credit costs that the buyer of the property must pay which reflects their personal situation (for instance if the buyer is married of if they have already used their tax credit – Bëllegen Akt – during a previous purchase). Regarding the monthly charges, Nexvia doesn’t just limit itself to giving you the costs of your hypothetical credit, but also exhaustively estimates monthly costs relating to your property including other property costs, insurance balances that are due and taxes or other housing insurance. As a result, the online user can determine the total costs relating to the property.

3) The third tool offered by Nexvia, the “Should I Buy or Rent My Home”, enables the user to know at what time it becomes more interesting to purchase a property or to rent it. This calculator, based on a sophisticated model, takes into account all of your parameters affecting your purchasing or renting costs, including your personal taxes. And in order to help the user determine if they can financially afford to buy the property, the site provides the “How Much House Can I Afford” calculator. Once personal information on income, charges and expenses are entered, the user will know what price they can afford.

4) In order to help the user better understand taxes relating to the purchase of a property, Nexvia also provides detailed information and explanations on the taxes a buyer can expect to incur, whether it’s for a primary property or buy-to-let investment. This information is included in the Tax Smart Card which is available on the Nexvia platform.

5) Finally, the site offers an illustrated guide of Luxembourg City neighborhoods. By examining the advantages and disadvantages regarding the location of a property, the guide enables each user to judge if the property is in an area that corresponds to their personality. The guide was also developed for expatriates arriving in Luxembourg in order to help them find a neighborhood that fits their lifestyle and logistical needs.

The website is currently offered in English and French. Online users can evaluate up to ten properties per month.