Luxembourg's state coffers gained approximately €20 million from public property auctions over the past five years, ministers revealed on Tuesday, even as the number of transactions declined by nearly half.

The Luxembourg government generated approximately €20 million through public real estate auctions between 2019 and 2024, according to a joint response from Minister of Finance Gilles Roth and Minister of Housing Claude Meisch to a parliamentary question.

The number of auctioned properties has decreased from 250 to 135 annually over the past five years. During this period, about 1,370 properties were auctioned off to the highest bidder. Of these, 164 were occupied residential/mixed-use buildings and 117 were flats.

The ministers noted they could not provide average sales prices due to the common practice of selling properties in bundled lots. The auctions naturally also result in revenue for the state through mandatory registration fees. Over the past five years, the state earned around €20 million as a result of 339 public auctions.

The online price calculator of the Housing Ministry currently indicates that the average sales price of an 80-square-metre flat in Luxembourg City is €670,000, compared to €450,000 for an identical flat in Esch-sur-Alzette.