Average Luxembourg Property Prices Per m2 Down 1%

Luxembourg real estate advertising site Immotop.lu has published a report on property prices in Luxembourg in the third quarter (Q3) of 2023, with a focus on the impact of energy class on the sale price.

The new report is based on the prices of properties for sale advertised on the Immotop.lu platform.

According to the report, the average price per m2 for sale in Luxembourg stood at €8,617 in Q3 2023 (down 1.0% over one quarter but up 0.1% over one year).

The average price per m2 of energy class A properties for sale in Q3 2023 was €9,560, whilst that of energy class G properties for sale was €7,287. This represents a price difference of €2,273 / m2.

Looking at different regions, the report showed that the average price per m2 for sale was highest in the centre region (between €10,250 and €12,000), although this had decreased by 1.1% over one quarter and by 0.1% over one year. The west region was the second most expensive; the average price per m2 (just under €8,500) had increased by 1.0% over one quarter but dropped by 2.4% compared to Q3 2022.

In the east, the average price per m2 for sale (about €7,000) had decreased by 0.9%, both over one quarter and over one year. Similarly, the south region (also about €7,000 per m2) saw decreases of 1.6% over one quarter and 3.6% over one year. The lowest average price per m2 for sale could be found in the north region (between €5,000 and €6,750), where prices had fallen by 1.8% compared to Q2 2023 and by 0.5% compared to Q3 2022.

The average price difference per m2 of energy class A-C and F-G properties for sale in the centre region was €1,403 / m2 (A-C: €10,465; F-G: €9,062). In the west, this was €605 / m2 (A-C: €7,538; F-G: €6,933); in the east, the difference was €1,121 / m2 (A-C: €7,601; F-G: €6,480). In the south region, the difference was €1,490 / m2 (A-C: €7,968; F-G: €6,478); in the north, this was €535 / m 2 (A-C: €6,066; F-G: €5,531).

In Luxembourg City, where the overall average price per m2 of properties for sale was €12,429 / m2 (-0.4% since Q2 2023), the highest average prices per m2 could be found in the districts of Belair (€14,536 / m2; +1% since Q2 2023), Kirchberg (€13,074 / m2; -1%) and Hollerich (€12,810 / m2; -9%). The lowest average prices per m2 were found in the districts of Beggen (€9,747 / m2; -4%), Dommeldange (€9,785 / m2; -4%) and Rollingergrund (€9,836 / m2; -5%).