The property market in Luxembourg

Arriving at the small and modern airport of Luxembourg, I get a warm welcome from Thomas Gohm our Apimo co-owner and director of Apimo Benelux countries. Thomas, has been working for more than 15 years in the real estate media business and co-created Apiwork Luxembourg Sarl in 2018 together with our CEO (Nicolas Guillaud de Saint-Ferréol). 

Today as the associate of Apiwork Luxembourg, he manages a small team of two, Jill Hansen (Proptech consultant), and Vanessa Defive (Apimo instructor.). The offices are strategically located near the airport. They host training sessions for both new and experienced Apimo users. 

🇱🇺 Zoom on the real estate market in Luxembourg 

A country so small that you can reach the very north from Schengen in the south within less than 2 hours car drive. A "highway" leading from home to work for many of the commuters of the bordering countries (France, Germany, Belgium). Luxembourg being the country with the highest average paid jobs in Europe ( has a big advantage for foreigners since they don't pay any additional social security or personal income tax while living abroad. 

With one of the world's highest GDP per capita, you will find the wealthiest people living here in the world. In this high market, the asking price starts somewhere around 7.500 eur/sqm and has reached its peak during July this year 2022, with 9.200 eur/sqm. Therefore, classified as number five of the most expensive places to buy a property in Europe with 13.500 eur/sqm (

Between the different regions of Luxembourg, the housing prices also varies. As for the center, the price is about 11.600 thousand eur/sqm and in the south 7.400 thousand eur/sqm. 

But for the locals, it's not only positive that so many foreigners attract the country since housing prices have gone up rapidly and makes it hard today for young people to buy their first-time home. It's common to live with your parents until your mid-thirties, or to make a move to a bordering country, explains Vanessa who's born in Luxembourg.                            

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🤔 Is the real estate market different from France? 

"There is a considerable difference between the markets and also a reason why the expectations on the software can vary from one country to another," says Thomas. A small, and very dense market, with few offers and high demand. The competition between the agencies is fierce. "There are about 700 active agencies and if you count as well independent brokers, selling perhaps one property, there must be about 1000 agencies," says Thomas. Luxembourg being a small country of only 650.000 people, there is a big choice of agencies. 

Thomas explains that at the moment it's difficult for the agencies to get a sales contract. "As soon as a listing is out on the market, it generally gets sold very quickly," he says. Many of the agencies collaborate as in France. "Our clients can also use the "Bourse Immobilière" or their estimation tool. We are also linked to 1stKYC, which makes it easier for our clients to comply with their terms of legal and law-full obligations " he adds.  

💸  Investing in real estate?   

The market is dynamic and growing compared to France where prices are speculating going down 8% between 2022 and 2023 and interest rates are going up ( An investor can expect to make a profit once selling, since the growth in the house price is strong at about 4.9% since 2010 (Eurostat). And the purchase cost and property taxes are low compared to other bordering European countries (

"It's first now, during the first semester of 2022 that there is a visible price increase. but it must be said that a price per square meter over 10,000 euros in a small Luxembourg village is no longer an exception" explains Thomas. 

🤩 Future real estate predictions?

As in France and other countries, Luxembourg is not an exception of the digitalization of the business, but yet in the early stages ( "I think since Covid-19, the media has entered the real estate market with virtual visits, visits online, online appointment booking systems, etc even more present than before," says Thomas. To meet the competition on the market and also the expectations of the clients an agency has to adapt. "The real estate agencies have to level-up digitally to provide the best possible service to their property owners".  

A bright future ahead for the real estate market in Luxembourg and for our Apimo team! 

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Maria Tjäder Larsson 

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