In a press release published on 13 October, the company noted that despite “rising interest rates and high inflation, the Luxembourg real estate market continues to show positive growth.”
Old buildings saw an increase of 4.5% between July and September 2022, with the biggest increase recorded in the south (7.8%), followed by the west (7%), the East (6.6.%), the north (4.8%) and the centre (2.2%). New buildings, however, saw a stark slowdown, only going up by 0.7%. While in the north of the country, new building's prices grew by 15.8%, in the south, they decreased by 2.7%.
These observations are based on the prices shown on the AtHome platform, meaning that they do not include final sale prices and agreements.
Luxembourg statistics bureau Statec for the second quarter of 2022 had recorded an increase of 11.5%. They however confirmed the slowdown of rates.