Real estate in new builds from developers of Luxembourg
Real estate in Luxembourg
Location on the map, climate, and economy
Luxembourg (officially the Grand Duchy of Luxembourg) is a landlocked state in Western Europe, one of the smallest sovereign countries in Europe. In the north and west it borders with Belgium, in the east - with Germany, in the south - with France. Its capital, Luxembourg, is one of the EU capitals and is home to the Court of Justice of the European Union, the highest judicial body in the EU. The country is a founding member of the European Union, OECD, UN, NATO and the Benelux countries.
The climate is temperate, transitional from maritime to continental. The hottest month is July (the air warms up to 22-24°C during the day, and about 12-14°C at night). Winter is mild, the coldest month is January (during the day the air temperature ranges from 1 to 3°C, at night - from -3 to -1°C).
Luxembourg has an advanced economy with one of the highest GDP per capita in the world. Main industries are: mining, ferrous metallurgy, mechanical engineering, metalworking, chemical, leather, cement, faience, woodworking, clothing, food, electrical. In terms of steel production per capita, the country ranks first in the world. The country is also an important international banking center. Some income comes from tourism. Luxembourg exports 90% of its production.
Market and real estate prices in Luxembourg
Among all EU countries, the Luxembourg real estate market is the most conservative. Thus, over the past 10 years, real estate in the country has grown at a rate of about 3%. The rental rate of residential property in Luxembourg is 4% per annum. Despite the fact that the crisis in Europe is growing, the country's real estate market is still ahead of the stock market in terms of profitability. Luxembourg has also developed various investment vehicles to diversify the portfolios of both local and foreign investors. In addition, the government is constantly improving the fiscal and legal landscape to attract cross-border investment.
The quality of housing construction in Luxembourg fully corresponds to the standard of living in the Duchy. Real estate transactions are characterized by high liquidity, which is explained by the ease of resale and rental of housing, so buying residential property in Luxembourg is beneficial for obtaining a stable income. The economic and social well-being of the country, its location in the center of Europe and the active development of the construction industry also contribute to increased demand.
The cost of real estate in Luxembourg
According to a report by Luxembourg-based statistics agency Statec and housing research body Observatoire de l'Habitat, property prices in Luxembourg rose more than 10% year-on-year in the first quarter of this year amid some signs of a cooling in the country's property market. The surge in prices also came amid a drop in the number of transactions, which fell by more than 2% compared to the first quarter of 2021. The average cost of an apartment in Luxembourg is now 690,000 euros. The average price of a house in Luxembourg is about 1 million euros, while in the north of the country the price can be half as much. Secondary housing in the center can be purchased cheaper than in a new building. For example, a new apartment costs approximately 7,000 euros per m2, while a second-hand apartment costs 5,000 euros per m2.
Property types for sale
The range of real estate market is diverse: from apartments in the Old Town and apartments in the modern district of Kirchberg to cottages in the suburbs with their unique nature and silence and houses on the Moselle coast with endless vineyards. Accordingly, potential buyers can choose from the following types of property in Luxembourg:
- residential (apartments, houses, cottages, villas, townhouses, etc.);
- commercial (shopping space, office space, warehouses, industrial premises, etc.);
- land plots.
Real estate website in Luxembourg
We recommend that you use only expert information and follow the instructions of specialists. The GEOLN.COM real estate website will help with this, since it contains the current catalog of verified real estate in Luxembourg.
Buying property in Luxembourg by foreigners: the nuances of investing
Foreign citizens can buy property in Luxembourg without restrictions. The homeowner must pay a tax, which is up to 7.5% of the property's cadastral value (depending on the type of property). If the property is purchased on the primary market, you also need to pay 15% VAT.
Documentation in all transactions of purchase and sale of real estate in Luxembourg is carried out by a notary, fraud in this area is practically excluded, since the legislation provides reliable protection of the interests of investors and guarantees the purity of the operation.
Buying property in Luxembourg is a profitable investment in a stable market for the purpose of permanent or temporary residence, vacation or subsequent rental in a country with a high standard of living and income.
Real estate prices in Luxembourg
|15,900$ / m2
|5,290$ / m2
|7,260$ / m2
|5,400$ / m2
|10,390$ / m2
|17,300$ / m2
|3,500$ / m2
|13,400$ / m2
|9,965$ / m2
|3,500$ / m2