A steady increase in the average sale price per m² for existing flats | LISER

A steady increase in the average sale price per m² for existing flats

Since 2008, the sale prices of existing apartments have increased quite significantly in the territory of the Grand-Duchy of Luxembourg; the average growth rate is about 4.0% per year.

Contrasting evolutions in terms of price by municipality

The increase in the price of existing apartments has not been homogeneous over the territory. Between 2008 and 2017, the average price of an existing apartment had a greater increase in Luxembourg City and in the municipalities located near the capital (Strassen and Mamer). On the other hand, prices rose less rapidly than average in the Nordstad (Ettelbrück, Diekirch) and in most municipalities located in the canton of Esch-sur-Alzette.

The role of accessibility in Luxembourg-City

These differences suggest that accessibility in Luxembourg-City (which remains the main centre for jobs and services) has played a greater role in real estate prices which increased even more since 2008. This is evidenced by real estate prices that have increased all the more strongly for the nearest / most accessible municipalities of Luxembourg-City.

Since 2008, the sale prices of existing apartments have increased quite significantly in the Grand-Duchy of Luxembourg. The average sale price of an existing apartment has increased from € 3,579 / m² in 2008 to € 5,103 / m² in 2017. This represents a total increase of 42.6%, ie an average of + 4.0% per year.

However, this increase in the price of existing apartments has not been homogeneous over the territory: the average price of an existing apartment has thus increased by 66.1% between 2008 and 2017 in Luxembourg City, an average of +5.8 % per year. Prices also increased above average in the municipalities located near the capital (in particular in Strassen and Mamer). On the other hand, prices rose less rapidly than average in the Nordstad (Ettelbrück, Diekirch) and in most municipalities located in the canton of Esch-sur-Alzette. In most of these municipalities, the average price of an existing apartment between 2008 and 2017 rose between 30% to 42%, an average annual increase of between 3% to 4%. In Esch-sur-Alzette, for example, the average sale price of an existing apartment rose by 3.3% per year.

These differences suggest that accessibility in Luxembourg-City (which remains the main centre for jobs and services) has played a greater role in real estate prices which increased even more since 2008. This is evidenced by real estate prices that have increased all the more strongly for the nearest / most accessible municipalities of Luxembourg-City.

Field

Existing apartments sold a given year

Source

Ministère du Logement – Observatoire de l’Habitat

Statistical information extracted from notary deeds.

Reading Guide

The average sale price of an existing apartment in 2017 was higher than € 5,500 in Luxembourg City, while it was between € 4,000 and 4,500 / m² in Esch-sur-Alzette.

Prices per municipality for existing apartments and for apartments under construction for the period from July 1, 2017 to June 30, 2018 are available by clicking on the following link:

http://observatoire.liser.lu/prixenregistres.cfm?pageKw=pe_appart_commune

Publications related to the topic of the indicator
LISER, 2017, Le logement en chiffres n°6, 10 p.
LISER, 2016, Le logement en chiffres n°5, 10 p.
POUGET Clémence, FELTGEN Valérie, SKOCZYLAS Konrad, DECOVILLE Antoine
CEPS/INSTEAD, 2013, Dossiers thématiques (Observatoire de l'Habitat) n°9-2013, 42 p.
BOUSCH Patrick, LICHERON Julien
In: SCHRONEN Danielle, URBE Robert. SozialAlmanach 2012. CARITAS Luxembourg, 2012, pp. 249-258.
BOUSCH Patrick
Manuel de l'intervention sociale et éducative au Grand-Duché de Luxembourg / Handbuch der sozialen und erzieherischen Arbeit in Luxemburg. UR-INSIDE (unité de recherche « INtegrative research on Social and Individual and DEvelopment »); FLSHASE (Faculté des lettres, des sciences humaines, des arts et des sciences de l’éducation) - Université du Luxembourg, 2008.