LUXEMBOURG-CITY – For the first time, the capital is one of the ten most attractive European cities for real estate investors.
Real estate continues to grow in Luxembourg. The capital of the Grand Duchy is for the first time among the ten most attractive European cities in terms of potential for real estate investors, according to a study by the audit firm PwC. In the last twelve months, real estate investments in the Grand Duchy amounted to one billion euros, according to PwC, which believes that the country’s prospects are good for the real estate market. The Brexit and its cortege of companies leaving the United Kingdom have changed the real estate landscape on the Old Continent, notes the study. “Luxembourg is a very attractive alternative in London,” says a Swiss investor cited in the study. “Since the Brexit vote, an increase in real estate construction has been observed”. This development has negative consequences, starting with pressure on real estate prices. “In addition to a strong financial sector, the country is also developing its economy through significant investments in industrial sites, data centers and logistics, among others,” note the authors of the study. More than 800 real estate professionals in Europe – investors, developers, creditors, real estate agents and consultants – were interviewed as part of this survey. For the fourth time in a row, Berlin is in pole position in Europe’s most attractive cities.