Bertrange is the most expensive area when it comes to new properties (L'essentiel)

Prices per sq. m. have increased by 5% in one year while the capital city remains the most expensive neighborhood for old buildings

If the number of apartments sold has dropped down by 13.9% in the third quarter of 2012 in comparison with the previous three months, with a decrease by 2% year over year, the price per sq. m. has also declined over the past three months but still it has gone up by 5% in the past 12 months. These data were published this past Friday by the “Observatoire de l’habitat”. 

This means the average price registered for the sale of a new and old apartment stands at 386’182 and 322’082 € respectively. Transactions have increased by 5% in the southern region of the Grand Duchy that accounts for 36% of the total, thereby compensating for the decline registered in all other areas.

As far as already existing buildings are concerned, the capital city remains the most expensive neighborhood with prices standing at 5’026 € per sq. m. but Luxembourg City is edged by one of its neighbors, Bertrange, when it comes to new properties (6’134 € per sq. m.).

As for houses and apartments available for sale, their number has increased by 22.9% respectively decreased by 0.5% year over the year, with prices having slightly fallen down in all segments. On the other hand, as far as properties for rent are concerned, their offer has dramatically increased (59.2% for houses and 47.6% for flats respectively) in the past 12 months. The amount of the monthly rent to be paid for houses has declined in the past three months while that same figure has increased by 0.99% for apartments.