The Engel & Völkers network has an immense amount of market knowledge to offer! We are excited to provide you with interesting facts and figures about the important real estate market in the Grand Duchy.
"Luxembourg’s important multicultural demographics are due to an exceptionally high quality of life, a very strong economy and the geographic proximity to Belgium, France and Germany, says Philipp Niemann, Co-Managing Director at Engel & Völkers Luxembourg. “A high percentage of inhabitants prefer to buy a property rather than renting. According to the Eurostat report, 86.1 percent of Luxembourg nationals aged 20 to 64 live in properties they own. Ownership was highest among the 55-64 year age group, where 9 out of 10 nationals owned their own homes. In terms of foreign national home ownership, Luxembourg is well above the EU average (30.1 percent), with 56.6 percent of foreign nationals living in privately own real estate."
The capital’s most expensive and sought-after neighbourhood with mansions, beautiful townhouses and modern buildings is Limpertsberg. It is the preferred address of established families who have lived here for generations. Most residents are Luxembourgish or French. Limpertsberg is evolving into a vibrant blend of historic tradition and hip chic.
The neighbourhood known as Belair boasts a mix of splendid townhouses, some of which date back to the "Belle Epoque" era, and also more modern properties. Despite its multicultural atmosphere, Belair nevertheless retains a very "Luxembourgish" flair, appealing to younger people, couples, families and young professionals.
Kirchberg is a small and traditional neighbourhood, yet is also undergoing rapid development and regeneration. Due to its central location in the banking district and European Quarter, and its proximity to the airport, it is very popular. First and foremost, it is bankers, business people and European civil servants who are drawn to living in this district.