Real estate prices LuxembourgAre you intending to settle down in Luxembourg? You should know that real estate prices are globally high, be it when buying or renting an accommodation, and keep increasing because of a shortage in housing.
It is true that buildings and houses construction sites can be seen everywhere in Luxembourg, still, the offer is currently not sufficient to meet the needs.
Besides studies state a significant incoming increase of the population in the next decades, what does not lead to predict a price drop, especially since economic growth does not lack.

Average announced sale prices per municipality

On average, the prices announced for the sale of apartments in the Grand Duchy was of €5,678/m², that is to say, a 485,242-euro average value to acquire an apartment during the period starting from July 1st, 2016 until June 30th, 2017.
In Luxembourg City the prices announced averaged €7,637/m², with significant contrasts depending on the districts. The district of Limpertsberg is the most expensive one, on average €11,832/m². Comparatively, Beggen (€6,697/m²) and Mühlenbach (€6,629/m²) are far cheaper.
The average value of an apartment is announced at 650,000 euros in the municipality of Luxembourg. Buying an apartment in Beggen will cost you 560,000 euros on average, and 913,000 euros in Limpertsberg.
In the neighbouring municipalities, here are the average prices: €6,059/m² in the municipality of Niederanven, €5,689/m² in Sandweiler, €6,033/m² in Hespérange, €5,908/m² for Walferdange, €7,463/m² in Strassen and €7,447/m² in Bertrange.

The announced prices are the prices indicated in property ads. Those are not the ones that are really registered when buying.

Announced prices for apartments on sale

On average, the prices announced for the sale of apartments in the Grand Duchy was of €5,678/m², that is to say, a 485,242-euro average value to acquire an apartment during the period starting from July 1st, 2016 until June 30th, 2017.
In Luxembourg-City the prices announced averaged €7,637/m², with significant contrasts depending on the districts. The district of Limpertsberg is the most expensive one, on average €11,832/m². Comparatively, Beggen (€6,697/m²) and Mühlenbach (€6,629/m²) are far cheaper.
The average value of an apartment is announced at 650,000 euros in the municipality of Luxembourg. Buying an apartment in Beggen will cost you 560,000 euros on average, and 913,000 euros in Limpertsberg.
In the neighbouring municipalities, here are the average prices: €6,059/m² in the municipality of Niederanven, €5,689/m² in Sandweiler, €6,033/m² in Hespérange, €5,908/m² for Walferdange, €7,463/m² in Strassen and €7,447/m² in Bertrange.

Average sale prices for real estate in Luxembourg

Announced prices – houses for sale

The housing price per m² is very subjective since the price of the property depends above all on the surface area of the land and on its characteristics. Nevertheless, you can make yourself an idea with the values below.

In the Grand Duchy of Luxembourg, a house is put on sale on average at a 784,000-euro price, that is to say €4,162/m².
In Luxembourg City, this price averages 1.198,000 euros, namely €6,467/m² with noticeable differences between districts: in Kirchberg, it is necessary to count on 1.541,000 euros on average to acquire a house (€7,720/m²) and in the district of Hamm, you can find houses averaging 761,000 euros (€5,005/m²).
In the municipality of Niederanven, you should allow 1.218,000 euros on average to acquire a house (€5,549/m²), 1.330,000 euros in the municipality of Walferdange (€6,018/m²), 1.148,000 euros in Sandweiler (€5.175/m²), 1.05,400 euros (€5,661/m²) in the municipality of Hespérange, 1.332,832 euros in Bertrange (€6,230/m²) and 1.369,800 euros in Strassen (€5,889/m ²).

Announced average rents per municipality

The prices per m² announced amounted between July 1st, 2016 and June 30th, 2017 to €19.91/m² on him(her,it).

The rent is averaging 1.222 euros for an apartment in Hamm, 1.936 euros in Kirchberg, 1.853 euros in Limpertsberg and 1.850 euros in Belair.
The prices of the apartments rents are averaging the following amounts: in the municipality of Niederanven, you may pay a 1,492-euro rent, 1,306 euros in Sandweiler, 1,386 euros in Walferdange, 1,654 euros in Hespérange, 1,515 euros in Bertrange and 1,511 euros in Strassen.

Average rent cost for real estate in Luxembourg city

As indicated in this article, the remoteness from the City of Luxembourg is a significant factor concerning price drops, either for rental or on sale properties. You will also find in this article the last quantified data concerning housing prices in Luxembourg.

Do you want to sell a property in Luxembourg ? Think of a qualified exclusive contract !

**Source Observatoire de l’Habitat, 2016/2017 period

RSS
Facebook
Twitter
Google+
LINKEDIN