Chapter 4
Residential
Luxembourg Real Estate Market Outlook 2023
Minute Read
Looking for a PDF of this content?
Residential prices hit new highs in 2022, following the long-standing trend. That said, the landscape is being complicated from macro developments, though recent changes are not fully captured in the latest figures. Sales are declining and commercialisation times are lengthening, as rising interest rates, high prices and an uncertain outlook bite.
Average purchase prices for the Grand Duchy increased 5.1% from 2021 to Q3 2022 (latest available data) to €695,385 (8,933 €/m²)¹. The increase is most apparent in existing apartments (+6.6%) versus new builds (+5.5%). While solid growth figures, they represent a notable slowdown from the previous two years, with Q4 activity unlikely to drive these meaningfully higher.
¹ STATEC
Number of sales and financial volumes for apartments
Average purchase prices for the Grand Duchy increased 5.1% from 2021 to Q3 2022 (latest available data) to €695,385 (8,933 €/m²)¹. The increase is most apparent in existing apartments (+6.6%) versus new builds (+5.5%). While solid growth figures, they represent a notable slowdown from the previous two years, with Q4 activity unlikely to drive these meaningfully higher.
¹ STATEC
Number of sales and financial volumes for apartments