Residential property prices in Luxembourg grew by 4.9% during the 3rd trimester 2017, compared to July-September 2016
On average, you can expect to pay €5,000/m² for an apartment, €640,000 for a house, and €42,000 for a garage.
The price for existing apartments peaked at over €6,300 for new apartments during the 3rd trimester of last year.
The price per m² is influenced by size: Graphic 1 - the larger the apartment, the lower the price per m².
And, unsurprisingly, by geography: Graphic 2 - increasing with proximity to Luxembourg city.
Family homes go for around €640,000. In the canton of Luxembourg, however, house price average is €968,918 - which is basically double of what you would pay in the north of the country. The average price of houses is €689,608 in the vicinity of Capellen-Mersch; €624,055 in the east of the country; and €548,912 in Esch-sur-Alzette and surrounding areas.
Graphic 3 - Distance from the capital city impacts house price
Garages are the new luxury item! In Luxembourg city it will take you a whopping €77,500 to buy one. Even in Esch-sur-Alzette garages have become an expensive item. The only 'cheap' alternative is the north, with an average price of €25,100.
Graphic 4 - Estimated value of garages (or covered parking spaces) - July 2016 - June 2017