On Tuesday, Nyuko in Luxembourg-Hollerich hosted the launch of a new Luxembourgish start-up, NEXVIA.
Pierre Clement, the founder of NEXVIA, presented the company's innovative FinTech solutions for the real estate sector. while most such solutions are targeted for the B2B community, NEXVIA is a B2C solution with the tag-line "Smart Property Buying and selling".
www.nexvia.lu is in both English and French and offers a series of innovative, free-to-use personal finance tools for private individuals engaging in property transactions, to facilitate decision making to buy, sell or rent property with financial technology (FinTech) tools that facilitate their investment decisions. These include an Affordability Calculator, a Buy-Versus-Rent Calculator and an Acquisition Costs and Monthly Charge Calculator.
In addition, the Home Valuation Tool was developed in order to estimate the value of real estate property more precisely. The analysed 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, neighbourhood, 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.
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. The site also offers an illustrated guide of Luxembourg City neighbourhoods. 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.
Pierre Clement, ex-director of Corporate Finance at PwC, 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 neighbouring 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 analyse 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 analyse 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.
