Real estate prices in Luxembourg in the 3rd quarter of 2024
October 1, 2024
The figures in this report are based on real estate listings for sale published on the Immotop.lu platform. Our data is calculated over a 12-month period to allow for an in-depth analysis of the evolution of average prices per square meter.
The evolution of prices per square meter on a national scale
In the 3rd quarter of 2024, the average price of a property for sale in Luxembourg was €8,488/m², a decrease of 5.1% compared to the previous year (the average price per square meter was €8,946 in the 3rd quarter of 2023). After several consecutive quarters of decline, the average price for purchasing a property in Luxembourg decreased by 2.1% compared to the previous quarter (it was €8,670/m² in the 2nd quarter of 2024).
We observe significant disparities in property prices based on their energy class. In the 3rd quarter of 2024, a property with an energy class G cost an average of €7,089/m², while a property with an energy class A reached an average price of €9,467/m², a difference of €2,378/m².
The evolution of prices per square meter by region
Focusing on the different regions of Luxembourg, we see that the price decline continues across all regions (the average prices per square meter are €10,883/m² in the Centre region, €7,929/m² in the West, €6,972/m² in the South, €7,089/m² in the East, and €6,107/m² in the North). Compared to the 2nd quarter of 2024, the West region experienced the largest drop, -3.0%, followed by the Centre with -2.5%, the North at -2.7%, the East at -1.6%, and finally the South with a more moderate drop of -0.5%.
Over the course of a full year, the declines are also notable. The Centre saw an annual drop of 4.3%, the West of 4.4%, the South of 4.6%, and the East of 2.7%. Contrary to these general downward trends, the North stands out with a slight annual increase of 0.2%.
These figures show contrasting dynamics across the different regions of Luxembourg in the 3rd quarter of 2024. While the majority of regions experienced significant declines, the North remained stable over the year, highlighting the importance of considering local specifics in analyzing the real estate market.
Prices per square meter in the districts of Luxembourg City
In the Luxembourg capital, the average price per square meter is again decreasing, standing at €12,462 in the 3rd quarter of 2024, representing a 1.4% decrease compared to the previous quarter.
The most expensive districts in Luxembourg City remain Belair (€14,647/m²), Neudorf-Weimershof (€12,802/m²), and Hollerich (€12,689/m²). On the other hand, the districts of Beggen (€9,596/m²) and Rollingergrund (€8,707/m²) have the most affordable prices in Luxembourg City.
Rent per square meter in Luxembourg
Regarding rentals, the average rent per square meter across the country is €29/m² in the 3rd quarter of 2024, representing an increase of 9.4% year-on-year (compared to €26.5/m² in the 3rd quarter of 2023).
Compared to the 2022 figures, the increase is even more pronounced: since the 3rd quarter of 2022, rental prices per square meter have increased by 15.5% (from €25.1/m² in the 3rd quarter of 2022).
Find your future home
Looking for a house for sale in Luxembourg, an apartment for sale in Luxembourg, a house for rent in Luxembourg, or an apartment for rent in Luxembourg? Visit Immotop.lu.
To discover the average sale price per square meter or the average rent per square meter in the municipality you are interested in, as well as the trends over the months, visit the Property Prices section.