Credit: Immotop.lu
On Wednesday 17 April 2024, Immotop published an analysis of the real estate market in Luxembourg, showing that sale prices have dropped 3.6% over twelve months to the first quarter (Q1) in 2024.
Prices have been measured per m2, with €8,889 / m2 being the average sale price in 2023 Q1, with the figure falling to €8,569 / m2 in 2024 Q1.
In 2024 Q1, the average price of energy class A and G properties for sale in Luxembourg was €9,410 / m2 (down 1.4% compared to 2023 Q4) and €7,063 / m2 ( down 1.3% compared to 2023 Q4), respectively.
Across regions, the decrease in real estate prices was even more marked, particularly in the north and west regions of Luxembourg:
- Centre region: -0.5% over one year, +1% over one quarter
- West region: -6.5%, -1.3%
- East region: -4.8%, -0.5%
- South region: -6.0%, +0.1%
- North region: -8.2%, -0.8%
Within Luxembourg-Ville, Belair remains the most expensive neighbourhood (prices increasing only by 1% to €14,760 / m2), followed by Kirchberg (€12,801 / m2 with a 2% decrease), Gasperich (€12,647 / m2 showing a 2% increase), Limpertsberg (€12,622 / m2) and Cents (€12,505 / m2, showing a 1.0% decrease).
Overall, the price of properties within Luxembourg-Ville saw an increase of 1.5%, to €12,675 / m2 compared to 2023 Q4.
