Buy or rent? Prices are rising in the Grand Duchy!
November 21, 2017
Real estate prices continue to rise this autumn in the Grand Duchy. An increase of about +5% to rent property and +6% to buy.
According to the Housing Observatory, in order to become the happy owner of an apartment in Luxembourg, you can count on at least an average price of €495,000*. If you prefer to invest in a house, you will need to pay an average of no less than €816,000*.
(*based on reported figures for the second quarter of 2017).
These prices fluctuate according to geographical area. The city of Luxembourg remains the most expensive municipality, with Strassen and Bertrange coming in second and third place behind the capital with average price rises of around 10% or more.
The municipalities of Wiltz, Winseler, Parc Hosingen, Berdorf and Wincrange are amongst the cheapest in the country but have also seen rising prices.
Prices vary depending on whether or not they are for new or existing housing. In general, you will have to pay a larger amount of money for the same surface area if you want to buy a new property or one that is under construction.
Renting in the Grand Duchy also has a significant cost for those who wish to become Luxembourg residents. It will cost around €1,470 a month for an apartment. The average price is fixed at €19.91/m2 but this figure is strongly influence by municipal disparities, such as the city of Luxembourg, for example, where the average price is fixed at €23/m2, and conversely at less than €13/m2 for some municipalities in the north and west of the country.
You can count on around €2,790 a month to rent a house with the same geographical variables in effect.
So if the increase in prices does not affect your desire to live in the Grand Duchy, you can make your housing search according to your criteria on our real estate portal IMMOTOP.LU and find your happiness in Luxembourg, and also in the French, Belgian or German border region if your ultimate choice is the neighbouring countries.
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Spa resorts in Luxembourg and the Greater Region.
Evolution of interest rates in Luxembourg
According to the Housing Observatory, in order to become the happy owner of an apartment in Luxembourg, you can count on at least an average price of €495,000*. If you prefer to invest in a house, you will need to pay an average of no less than €816,000*.
(*based on reported figures for the second quarter of 2017).
These prices fluctuate according to geographical area. The city of Luxembourg remains the most expensive municipality, with Strassen and Bertrange coming in second and third place behind the capital with average price rises of around 10% or more.
The municipalities of Wiltz, Winseler, Parc Hosingen, Berdorf and Wincrange are amongst the cheapest in the country but have also seen rising prices.
Prices vary depending on whether or not they are for new or existing housing. In general, you will have to pay a larger amount of money for the same surface area if you want to buy a new property or one that is under construction.
Renting in the Grand Duchy also has a significant cost for those who wish to become Luxembourg residents. It will cost around €1,470 a month for an apartment. The average price is fixed at €19.91/m2 but this figure is strongly influence by municipal disparities, such as the city of Luxembourg, for example, where the average price is fixed at €23/m2, and conversely at less than €13/m2 for some municipalities in the north and west of the country.
You can count on around €2,790 a month to rent a house with the same geographical variables in effect.
So if the increase in prices does not affect your desire to live in the Grand Duchy, you can make your housing search according to your criteria on our real estate portal IMMOTOP.LU and find your happiness in Luxembourg, and also in the French, Belgian or German border region if your ultimate choice is the neighbouring countries.
Other recent articles:
Luxembourg City places 9th on the list of the most attractive cities in Europe.
Only 7% of the land found in Luxembourg is occupied by houses.
Spa resorts in Luxembourg and the Greater Region.
Evolution of interest rates in Luxembourg