Property prices continued to drop in Luxembourg as they fell to their lowest level since the end of 2020, a report by the national statistics agency and the Housing Observatory has found.
The price of housing continued its downward trend for the fifth consecutive quarter, with the average price for a house or a flat contracting by 14.4% in the last quarter of 2023 year-on-year.
The most significant decline was registered for existing homes, which are down 18.8% compared the Q4 2022. Apartments under construction (sales in a future state of completion or VEFA) experienced the least significant annual decline, down just 7.6%. The price for…
