The real estate market in Luxembourg showed a decrease in prices after a 3-year growth. In 2012, the average price of home sales decreased by 1.63% compared with 2011. And inflation-adjusted decline in property prices in Luxembourg was 4.1%, informs portal Global Property Guide.
For comparison, the real estate market in Luxembourg saw an increase in prices by 2.27% in 2011, by 5.46% in 2010 and by 3.03% in 2009, according to official government data.
The largest decline in prices in 2012 recorded in the segment of cottages, which fell by 10.2% year on year. Also, the average selling price of apartments fell by 3.4% when adjusted for inflation, compared with 2011.