Buying in Luxembourg City: Prices

In 2023, a general decrease of 7% affected all regions of Luxembourg in the real estate market, but what about the capital? Here is an analysis of the market situation in Luxembourg City.

In the 4th quarter of 2023, the average purchase price per square meter in Luxembourg City recorded a slight increase of 0.5%, reaching €12,487 compared to the 3rd quarter. Some neighborhoods, such as Belair and Kirchberg, significantly exceed this average with respective prices per square meter of €14,571 and €13,014. Other neighborhoods, such as Beggen and Rollingergrund, are notably below the average with respective prices of €9,920 and €9,763.

Among the neighborhoods with prices close to the national average are Limpertsberg (€12,627/sqm), Gasperich (€12,346/sqm), Ville-Haute (€12,307/sqm), and Neudorf-Weimershof (€12,215/sqm). As for Luxembourg Gare, the price per square meter is €10,476.

Renting in Luxembourg City

Regarding rentals, the average price increased by 7.3% nationwide due to sustained demand. Moving from €24.12/sqm at the end of 2022, the average cost is now €25.89/sqm.

Market Summary

Despite a general decrease in prices at the national level, the real estate market in Luxembourg City demonstrates some resilience with a slight increase in prices per square meter in the 4th quarter of 2023. Disparities between neighborhoods emphasize the importance of carefully choosing the location based on individual needs and preferences.

In parallel, the rise in rental prices highlights the strong demand in the rental market, creating opportunities and challenges for potential tenants.

Whether for purchase or rental, our real estate agency offers a variety of properties suitable for different budgets and needs. Explore our selection here to find the property that meets your expectations in the market!

[Source: Immotop.lu]