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Property market trends in 2023

Extérieur de la maison de banlieue moderne

 

What are the trends in the Luxembourg property market in 2023? Let's take a look at the key points with our real estate expert, Paolo D'Ottavio, who is now working at the Hoom agency. 

Can you give us an overview of the real estate market in Luxembourg in the fourth quarter of 2022?

Paolo D'Ottavio: "In the fourth quarter of 2022, property prices rose by an average of 3.3% compared to the previous year. Flats recorded a higher price increase than houses, with an increase of 5.5% compared to 2.5% for houses.

In which geographical areas have prices increased the most?

Paolo: "Property prices have risen significantly in the southern municipalities of Luxembourg, such as Esch-sur-Alzette, Rumelange and Schifflange, where prices have increased by more than 10% in one year.

How is the demand for real estate in 2023?

Paolo: "Demand for real estate remains strong this year, especially for affordable housing. The rental market is also on the rise, with an increase in demand for rental accommodation, especially for studios and one-bedroom flats.

Do you have a property to sell or rent? Entrust it to Paolo, formerly active in Carré Immo, a real estate expert for over 15 years in Luxembourg.

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