Do you plan to move to Luxembourg? It should be known that overall real estate prices are high, whether for sale or rental, at levels equivalent to major European cities. These prices continue to rise due to a housing shortage.
Even if one can see everywhere in Luxembourg of the construction sites of collective buildings and individual houses, the supply is not today sufficient to answer the demand.
In addition, studies show a significant increase in the population in the coming decades, which does not suggest a decline in prices, especially as economic growth is at the rendezvous.
Average advertised selling price per municipality
Advertised prices are the prices quoted for sale in real estate listings. These are not prices actually recorded for sale.
On average, the announced prices for the sale of apartments in the Grand Duchy was 5.678 € / m², an average value of 485.242 euros to acquire an apartment over the period from 1 July 2016 to 30 June 2017.
In Luxembourg-City the advertised prices were on average 7.637 € / m², with significant differences per district. The district of Limpertsberg is at the top of the range with 11.832 € / m² announced against 6.697 € / m² for Beggen and 6.629 € / m² for Mühlenbach.
The average value of an apartment is announced at 650,000 euros in the municipality of Luxembourg. It takes an average of 560,000 euros to buy an apartment in Beggen against 913,000 euros in Limpertsberg.
In the neighboring municipalities, there is 6,059 € / m² in the municipality of Niederanven, 5,689 € / m² in the municipality of Sandweiler, 6,033 € / m² for the municipality of Hespérange, 5,908 € / m² for Walferdange, 7,463 € / m² for Strassen and 7.447 € / m² for Bertrange.
The value of houses per square meter is very subjective in that the price of the property depends primarily on the surface of the land and its characteristics. Nevertheless, we can retain the values below.
In the Grand Duchy of Luxembourg, a house is announced on average at a price of 784,000 euros, or 4.162 € / m².
In Luxembourg-City, this price rises to 1,198,000 euros on average, or 6,467 € / m² with notable differences between districts: in Kirchberg, it takes on average 1,541,000 euros to buy a house (7,720 € / m²) and in the district of Hamm, one can find houses with 761.000 euros on average (5.005 € / m²).
In the commune of Niederanven, we will disburse on average 1,218,000 euros to buy 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), 1,053,400 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 € / m²).
Announced average rent per municipality
Advertised rent per square meter for the period from 1 July 2016 to 30 June 2017 was 19.91 € / m² for the whole of the Grand Duchy for an apartment and 14.11 / m² for a house.
In Luxembourg-City, it takes on average 23.74 € / m² for an apartment and 18.00 € / m² for a house.
The average rent in Hamm is 1,222 euros for an apartment, 1,936 euros in Kirchberg, 1,853 euros in Limpertsberg and 1,850 euros in Belair.
The rents of the apartments are in the following averages: in the municipality of Niederanven, you will have to pay an average rent of 1,492 euros, 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.
As stated in this article, the distance from the City of Luxembourg is a significant factor in lower prices, whether for rent or for sale. You will also find in this article the latest figures on real estate prices in Luxembourg.
*Source Observatoire de l’Habitat 2016-2017