Average price per m2 for sale in the regions of Luxembourg;
Credit: Immotop.lu
On Tuesday 2 July 2024, Luxembourg real estate portal Immotop.lu published a report on property prices in Luxembourg in the second quarter (Q2) of 2024, with a focus on the impact of energy class on the sale price.
The report is based on data taken from properties currently listed for sale on the Immotop.lu platform during Q2 2024.
According to the report, the average price per m2 for sale in Luxembourg was €8,670 in Q2 2024, i.e. down by 2.9% over one year (€8,928/m2 in Q2 2023) and by 1.7% over one quarter.
The average price per m2 of energy class A properties for sale in Q2 2024 was €9,661 (-0.4% over one quarter), whilst that of energy class G properties for sale was €7,225 (+0.2% over one quarter). This represents a price difference of €2,436/m2.
Looking at different regions, the report showed that the average price per m2 for sale remained highest in the centre region (at over €11,000/m2), although this had decreased by 1.4% over one year and by 2.7% over one quarter. The west region was the second most expensive; the average price per m2 (over €8,000) had decreased by 0.8% over one year but increased by 2.0% compared to Q1 2024.
In both the east and the south, the average price per m2 for sale was just over €7,000, although the east was slightly more expensive than the south. In the east, prices dropped by 2.9% over one year but rose by 0.3% over one quarter. In the south, prices fell by 5.3% over one year and by 1.2% over one quarter.
The lowest average price per m2 for sale was once again found in the north region (over €6,000), although prices actually rose by 1.4% compared to Q2 2023 and by 8.9% compared to Q1 2024.
In Luxembourg City, where the overall average price per m2 of properties for sale was €12,641 (-2.7% since Q1 2024), the highest average prices per m2 could be found in the districts of Belair (€14,828/m2; -1.5%), Limpertsberg (€13,312/m2; +0.8%) and Hollerich (€12,893/m2; +3.0%). The biggest price increase could be found in Eich: up 4.5% over one quarter to reach €10,928/m2. The lowest average prices per m2 were found in the districts of Gare (€10,688/m2; -0.5%), Muhlenbach (€10,368/m2; +2.4%) and Beggen (€10,179/m2; -2.0%). The biggest price drop could be found in Cents: down 10% over one quarter to €11,783/m2.
