While property prices continue to rise around Luxembourg, the province of Luxembourg (in Belgium) is an exception. In 2024, it was the only region in the country where house prices fell, a trend that contrasts with the general rise seen in recent years.

According to the latest Baromètre des notaires de la Fédération du notariat (Fednot), the average price of a residential house in Wallonia fell slightly (-0.8%) to €238,691. But it is in the province of Luxembourg that the fall is most marked: -3.8%, with an average price of €258,553 in 2024 compared with €268,712 in 2023. In fact, it is the only province in the country where prices have not risen. Houses dominate the Walloon property market. In the province of Luxembourg, more than eight out of ten properties are houses, a trend that is almost identical throughout the region.

Despite this fall, it remains the second most expensive Walloon province, behind Namur, where prices rose by 1.4% to reach €245,620 per house. By way of comparison, a house in Belgium cost an average of €329,743 in 2024, with Brussels remaining the most expensive region, with an average price of €570,110 per house.

As for flats, average prices fell in three of the five Walloon provinces. The steepest fall was recorded in the province of Namur (-3.5%), where the average price fell from €204,207 in 2023 to €196,995 in 2024. In Liège, flats sold for an average of €188,203, compared with €190,812 in 2023 (-1.4%). In the province of Luxembourg, the fall is more modest: -0.8% (€222,760 in 2024 compared with €224,565 in 2023).

The province of Luxembourg continues to attract young buyers: 31.1% of buyers in 2024 were aged 30 or under, compared with 29.8% in 2023. At national level, it ranks sixth behind Limburg (33%), East Flanders (32.7%), Antwerp (31.8%), Liège (31.4%) and Hainaut (31.2%).

The figures released by Fednot via this Property Barometer are based on all property transactions concluded in Belgium during 2024. The data is collected electronically at the time the sales contract is signed, and is supplemented by data from the deed of sale.

This article was originally published in .