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.