The Observatoire de l’Habitat, in exclusive partnership with IMMOTOP.LU, has released its latest reports on the evolution of real estate prices in the 4th quarter of 2016.

Prices advertised in real estate listings

The number of advertisements for sale in Luxembourg has increased compared to the previous year: +18% for apartments for sale and +7% for houses. Unsurprisingly, there’s an increase in prices for the sale of houses (+ 7%), and an increase of +5.1% on the sale price of apartments.

As for rental, the trends are the same but higher. The Observatoire de l’Habitat recorded a +34% of house rentals compared to the 4th quarter of 2015 and +28% in apartments. And even here, the rental price has increased within one year: +5.7% for houses, and +5.8% for apartments.

Average prices of homes for sale

In the 4th quarter of 2016, it took on average:

• € 545,748 for purchasing a 2 bedroom house, which is +13% of the price in one year
• € 782,993 for purchasing a 4 bedroom house (+6.4%)
• € 386,020 for purchasing a one bedroom apartment (+9.9%)
• € 627,114 for purchasing a 3 bedroom apartment (+1.2%).

In rental, it was on average:

• € 2,069 for a 3 bedroom house (+7.3%)
• € 966 for a studio (+4.3%)
• € 1,605 for a 2 bedroom apartment (+4.8%)
• € 2,709 for a 4 bedroom apartment ( 8.4%).

Of course, these averages mainly depend on the condition of the dwelling (new or old) and its locality.

Real prices of apartments for sale

The average price that is actually paid for the sale of new or old apartment is respectively increasing by 6.7% and 9.5% over a year.

On average, the new apartments that are sold offer an area of 78m², for an average price of € 6,346 per square meter, for a cost of about € 486,152.

With regard to old apartments, on average, the ones that are sold are about 80m², for a price of € 4,947 per square meter, for a cost of € 385,331.


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