Luxembourg Statistics

Source: Open Data

POPULATION

The current population of Luxembourg in 2024 is 672,050, marking an increase of 11,241 residents, or 1.7%, compared to 2023. Over the past two decades, the country’s population has seen significant growth, rising by more than 230,000—from 439,000 in 2001 to 672,050 in 2024. 

Between 2023 and 2024, the number of Luxembourgers grew by +6,970, followed by an increase of +511 Syrians and +472 Spanish citizens. Meanwhile, the number of Portuguese residents in Luxembourg declined by -1,186 in 2024. As a result, in 2024, Luxembourgers make up the largest population by nationality in Luxembourg (354,372) (53%), followed by Portuguese (90,915) (14%) and French citizens (49,234) (7%). Almost all inhabitants, or 92%, are Europeans, while Asians and Africans represent 4% and 3% of the total population, respectively. 

The largest age group in Luxembourg in 2024 comprises individuals aged 30-34, totaling 54,743 persons. This group is followed by persons aged 35-39 (53,218 persons) and those aged 40 to 44 (51,306 persons). The gender ratio in Luxembourg remains balanced at 1:1, with 338,274 males and 333,776 females.

UNEMPLOYMENT

Luxembourg's unemployment rate edged up to 5.8% in July 2024, compared to June's reading of 5.7%. The number of unemployed persons in Luxembourg in June 2024 was 17,901, an increase of 818 persons compared to the previous month. Among these, the largest group of job seekers - 2,394, were aged 30-34, followed by those aged 40-44, with 2,309 job seekers and people aged 35-40, where the unemployment count is 2,277 persons. Communities Esch-sur-Alzette, Differdange, Reisdorf, and Wiltz marked particularly high unemployment rates, each exceeding 5%.

Despite the rise in unemployment, 380 new jobs were created, bringing the number of available roles from 3,090 in June to 3,470 in July 2024.  However, the overall number of open positions dropped by 0.6%, from 7,586 in June to 7,539 open positions in July 2024- a reduction of 47. Most of these vacancies (4,016) were in the commune of Luxembourg, with Niederanven offering 191 positions and Leudelange 160.  Business support services dominated the job market, offering 2,698 vacancies, followed by the construction and public works sector with 854 positions, and personal and community services with 843 positions.

HOUSING II (Country Level - Updated Quarterly)

The housing data statistics from the first quarter of 2024 reveal the latest market trends for Luxembourg.

During the first months of the year, the price for a new apartment in Luxembourg averaged €9,340 per square meter, reflecting a 1.21% increase from the final quarter of 2023. Meanwhile, existing apartments were priced at €7,670 per square meter, marking a 1.70% increase from 2023 Q4. The apartments sold had an average size of 80 square meters.

As a result, in 2024 Q1, Luxembourgers paid an average price of €713,760 for a new apartment and €594,351 for an existing one, a 22% price difference.

The demand for existing apartments significantly outpaced new constructions, with 809 existing units sold compared to 92 new ones. These figures represent a 26% increase in sales from the previous quarter. The total value of these transactions reached €475 million for existing apartments and €73 million for new apartments.

HOUSING I (Municipality Level - Updated Yearly)

The numbers show the housing statistics in Luxembourg in 2023. Over the year, the average price of apartments in Luxembourg was 9,105€/m² across the country. The most expensive commune was Luxembourg City, with an average price of 11,670€/m², followed by Strassen at 11,605€/m² and Steinsel at 9,687€/m². On the other end of the spectrum, the most affordable apartments were in Wiltz, averaging 5,520€/m², with Echternach and Clervaux also offering lower prices at 5,775€/m² and 6,196€/m², respectively.

Luxembourg remained the commune with the most expensive apartments, where buyers can pay up to 31,698€/m² , followed by Strassen, for premium apartments. In contrast, the least expensive apartments in 2023 were located in Wiltz, Grevenmacher, Echternach and Rumelange, priced at around 3,300 - 4,000€/m².

New apartments were significantly more expensive, averaging 10,119€/m², compared to 8,091€/m² for existing apartments. This price gap resulted in a notable difference in sales. A total of 2,038 existing apartments were sold in 2023, nearly 10 times the number of new units sold, which totaled just 288. This represents a sharp decline in overall demand compared to 2022, when 3,105 existing and 1,169 new units were sold.

The next update of these figures from the government are expected early 2025 to reflect the data of 2024.

ECONOMY

Continuing a four-month decline, the inflation rate in Luxembourg dropped to a level of 1.73%in August 2024, down by 0.25% compared to July’s inflation rate of 1.98%. This marks the lowest inflation rate since August 2023. Compared to the Euro Area, this puts Luxembourg below the average European inflation rate, which remained at 2.2% in August 2024.

The statistics also show that in August 2024, residents took €168 million in housing loans, for which they will pay an average interest rate of 4.82%. Most of these loans have a fixed interest rate for up to one year and a subsequent floating rate.

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