Key information about House Prices Growth

• Luxembourg house prices dropped 1.7% YoY in Sep 2024, following a decrease of 8.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2008 to Sep 2024, with an average growth rate of 5.4%.
• House price data reached an all-time high of 17.2% in Mar 2021 and a record low of -14.5% in Dec 2023.

CEIC calculates House Prices Growth from quarterly House Price Index. The Statistics Portal of Luxembourg provides House Price Index with base 2015=100. House Price Index covers purchase prices of apartments only. House Prices Growth prior to Q1 2010 is with base 2010=100.

The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Norway top this ranking, meaning residential property prices have surged the most in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country. Home ownership highest in Eastern Europe The home ownership rate in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly ** percent in Romania or around ** percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up ** percent and ** percent of their respective populations.For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

Housing Index in Luxembourg decreased to 162.28 points in the first quarter of 2025 from 164.25 points in the fourth quarter of 2024. This dataset provides - Luxembourg House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows the average selling price of a house in Luxembourg City compared to the national average selling price from 2016 to the second quarter of 2018 (in euros per square meter). In 2017, there was an increase in the selling price of a house both in Luxembourg City as well as in the country of Luxembourg compared to the previous year. In 2018, both city and country prices decreased considerably, recording the lowest values of these time in consideration. Overall, during the three years here recorded, the average selling price of a house in Luxembourg city was always higher than the national average.

In 2023, the rental price index in Luxembourg increased by *** index points year-on-year. The index measures the development of the average rent paid by households, with 2015 used as a baseline year and an index value of 100. These figures are seasonally adjusted, which means that the effect of seasonal variations was eliminated from the data. In 2023, the rent price index reached ***** index points, suggesting an increase of ** percent since 2015.

The sixth arrondissement of Paris was the area with the highest residential real estate price in the French capital as of May 2025. In this arrondissement, which includes several historical sites like Saint-Germain-des-Prés, the Académie Française, and the Jardin du Luxembourg, the average price per square meter amounted to over ****** euros. Paris is known for being one of the most expensive European cities to rent an apartment. The price difference in the twenty arrondissements of Paris The French capital is divided into twenty arrondissements, which correspond to administrative districts. Because of their geographical situations in regards with the economic centers of the city of Paris, as well as their environments and the living conditions they offer, arrondissements do not have the same average price per square meter. For example, the average square meter price for an apartment in cosmopolitan districts like the 19th and the 20th arrondissements, located in the northeastern part of the city, amounted to around ***** euros, compared to close to ****** euros in Le Marais (4th arrondissement). Paris was by far the most expensive city in France, regardless of the location of the accommodation. In 2023, the average price per square meter for rental flats reached ** euros in Paris and ** euros in Marseille, France’s second-largest city. The rise in rental prices in European cities It appears cities in Europe have seen their rental prices increasing over the past years. In Germany, for instance, if Berlin used to be described as “poor but sexy” (to quote Berlin’s former mayor Klaus Wowereit), it appears that the German capital is not unaffected by the rise in rents. From 2016 to 2022, the average rent price of residential property in Berlin went from *** euros per square meter to **** euros five years later.

Luxembourg Houses Sold: Number of Transactions: Flats data was reported at 1,734.000 Unit in Dec 2024. This records an increase from the previous number of 1,140.000 Unit for Sep 2024. Luxembourg Houses Sold: Number of Transactions: Flats data is updated quarterly, averaging 1,448.000 Unit from Mar 2007 (Median) to Dec 2024, with 72 observations. The data reached an all-time high of 2,335.000 Unit in Dec 2017 and a record low of 749.000 Unit in Dec 2023. Luxembourg Houses Sold: Number of Transactions: Flats data remains active status in CEIC and is reported by Statistics Portal of Luxembourg. The data is categorized under Global Database’s Luxembourg – Table LU.EB001: House Price Index and Houses Sold.

The house price to income index in Europe declined in almost all European countries in 2023, indicating that income grew faster than house prices. Portugal, Luxembourg, and the Netherlands led the house price to income index ranking in 2023, with values exceeding *** index points. Romania, Bulgaria, and Finland were on the other side of the spectrum, with less than 100 index points. The house price to income ratio is an indicator for the development of housing affordability across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. A ratio higher than 100 means that the nominal house price growth since 2015 has outpaced the nominal disposable income growth, and housing is therefore comparatively less affordable. In 2023, the OECD average stood at ***** index points.

This statistic shows the average asking price of houses and apartments in Luxembourg from the first quarter of 2013 to the third quarter of 2017 (in euros). As of the third quarter of 2017, the price of a house was estimated at approximately ****** euros or ***** euros per square meter.

In recent years, the housing market of the Grand Duchy of Luxembourg was affected by two developments: an increasing population due to the arrival of new residents from foreign countries and new dwellings not matching up to the population increase. As such, prices of residential property have increased.

LU: House Price Index: Real: sa data was reported at 130.808 2015=100 in 2024. This records a decrease from the previous number of 142.549 2015=100 for 2023. LU: House Price Index: Real: sa data is updated yearly, averaging 102.610 2015=100 from Dec 2007 (Median) to 2024, with 18 observations. The data reached an all-time high of 164.021 2015=100 in 2022 and a record low of 84.030 2015=100 in 2007. LU: House Price Index: Real: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices deflated using the private consumption deflator from the national account statistics. More information on the nominal house prices are available on the nominal house price indicators selection.

Luxembourg: Furniture and household maintenance prices, world average = 100: The latest value from 2021 is 148.45 index points, an increase from 135.73 index points in 2017. In comparison, the world average is 82.49 index points, based on data from 165 countries. Historically, the average for Luxembourg from 2017 to 2021 is 142.09 index points. The minimum value, 135.73 index points, was reached in 2017 while the maximum of 148.45 index points was recorded in 2021.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

During 2018, Paris was the most expensive European city to rent an Apartment, at 2.85 thousand U.S. dollars per month. London had an average rental cost of over 300 U.S. dollars less than the Capital of France. Cities within Western Europe have a higher rental price than their Eastern counterparts with Moscow seeing the average cost of rent over one thousand U.S. dollars per month lower than Paris.

Supply and demand

One of the main factors driving high rents across European cities is the same as any other consumer driven business. If demand outweighs supply, prices will inflate. The drive for high paid professionals to be located centrally in prime locations, mixed with the low levels of available space, high land and, construction costs all help keep rental prices increasing.

Renters now outweigh home owners

In London, the number of private renters has increased dramatically from 2008. Increasing house prices as well as standard costs of living have seen more and more people unable to get on to the property ladder, and are therefore forced onto the rental markets for longer. This being said 2019 has become a great time for first-time buyers as interest rates remained historically low.

In 2024, Bulgaria, Hungary, and Spain exhibited the highest inflation-adjusted increase in house prices among the countries under observation. In the fourth quarter of the year, house prices in Bulgaria grew by nearly ** percent in real terms, whereas globally, prices declined by about * percent. The country with the highest price drop was Luxembourg, at almost ***** percent. Turkey, France, and Austria also experienced a notable decline in prices, at **, *** and *** percent, respectively. These figures are based on the development of the real house price index, with 2010 chosen as a baseline year. When looking at the long-term index development, Turkey observed the biggest increase in prices in the region. When looking at the average house price in the major European markets, Norway emerged as the country with the most expensive residential property. Meanwhile, cities such as Geneva, Zurich, and London had the highest average apartment prices.

The price per unit in the household appliances market in Luxembourg was forecast to continuously increase between 2025 and 2030 by in total ** U.S. dollars (+***** percent). After the ***** consecutive increasing year, the price per unit is estimated to reach ****** U.S. dollars and therefore a new peak in 2030. Notably, the price per unit of the household appliances market was continuously increasing over the past years.Find further information concerning the price per unit in the 'Major Appliances' segment of the household appliances market in Haiti and the revenue in the household appliances market in Guyana. The Statista Market Insights cover a broad range of additional markets.

The price per unit, at home is forecast to experience significant growth in all segments in 2027. This reflects the overall trend throughout the entire forecast period from 2022 to 2027. It is estimated that the price per unit, at home is continuously rising in all segments. In this regard, the Hard Seltzer, out of home segment achieves the highest value of 62.93 U.S. dollars in 2027. The Statista Market Insights cover a broad range of additional markets.

The average price of houses in Flanders, Wallonia and the Brussels Capital Region were very different from each other in 2022. That year, a house in the Flemish region was around ******* euros. Belgium has four governments, one national and three regional: Dutch-speaking Flanders, French-speaking Wallonia and the Brussels Capital Region (the city of Brussels along with its surrounding villages). All four areas operate independently from each other. House prices in Belgium have risen in recent years, but the increase has been milder than in the Netherlands and Luxembourg.

The average revenue per household is forecast to experience significant growth in all segments in 2030. As part of the positive trend, the average revenue per household achieves the maximum value across all two different segments by the end of the comparison period. Notably, the segment Major Appliances stands out with the highest value of ****** U.S. dollars. Find further statistics on other topics such as a comparison of the price per unit in Nigeria and a comparison of the price per unit in Brazil. The Statista Market Insights cover a broad range of additional markets.

In Luxembourg, electricity prices for households with an annual consumption between 1,000 and 2,500 kilowatt-hours averaged 24.65 euro cents per kilowatt-hour in 2023. For an annual consumption between 2,500 and 5,000 kilowatt-hours, households paid an average of 20.12 euro cents per kilowatt-hour at the time.

Over the last two observations, the price per unit, at home is forecast to significantly increase in all segments. Comparing the two different segments for the year 2025, the segment 'Tea, out of home' leads the ranking with ******** U.S. dollars. Contrastingly, 'Tea, at home' is ranked last, with ***** U.S. dollars. Their difference, compared to Tea, out of home, lies at ******** U.S. dollars. The Statista Market Insights cover a broad range of additional markets.