The city of Luxembourg has displaced London as the European capital with the most expensive property, according to a new survey by the property firm Era Immobilier.
With an average residential sale price of EUR470,000 (US$567,000), Luxembourg was ranked above several European capitals with expensive reputations.
The second most expensive property was to be found in the Swiss capital, Berne, where the average sale price reached EUR421,000, followed by Madrid and Dublin where average prices were EUR408,120 and EUR330,000 respectively.
London, which was ranked as the most expensive in last year's survey, dropped to fifth with an average sale price of EUR328,000. Paris (EUR261,180) was placed eighth on the list
Meanwhile, some of the lowest property prices in the survey were to be found in Brussels, with an average home price of EUR182,211.
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