Luxembourg House Prices Rise For First Time Since 2022

(RTTNews) - Housing prices in Luxembourg rose in the fourth quarter of 2024, marking the first increase in two years, preliminary data from the statistical office showed on Wednesday.

Prices of apartments and houses climbed 1.4 percent year-on-year after a 1.9 percent fall in the third quarter. This was the first increase since the final three months of 2022 when housing prices rose 5.5 percent. Prices of existing dwellings grew 2.4 percent following a 1.9 percent decline in the previous quarter. This combines a 3.0 percent increase in prices of houses and a 1.8 percent rise in those of apartments.

Prices of apartments under construction decreased 2.4 percent from a year ago after a 2.6 percent slump in the previous three months.

In the year 2024, housing prices in Luxembourg shrunk 5.2 percent after a 9.1 percent fall in the previous year. Prices were lower for a second year in a row.