# 2027 depreciation: €600,000 is not an asking-price filter

Our listing audit finds plenty of lower-priced flats and F–I homes. Neither group is a list of tax-qualified investments.

Canonical: [https://chathome.lu/en/insights/depreciation-2027-asking-price-energy-audit](https://chathome.lu/en/insights/depreciation-2027-asking-price-energy-audit)
Published: 2026-10-19T12:10:31.714Z
Updated: 2026-10-19T12:10:31.714Z

In chathome.lu's audited subset, 1,577 of 4,374 priced apartment records ask €600,000 or less. The budget proposal's threshold refers instead to depreciable value at original completion. Separately, 1,402 residential records have usable F–I labels, but the enacted 10% renovation rate concerns qualifying investment expenditure, not the purchase price of those homes.

## Key takeaways

- A lower asking price creates a budget candidate, not a certified depreciation entitlement.
- A recorded F–I label creates a reason to investigate works; obtain the evidence that determines their treatment.

## The €600,000 shortlist measures price, not eligibility

chathome.lu data shows **1,577 apartment records asking €600,000 or less**, out of **4,374 priced apartments** in the retained audit. Calculated on **19 October 2026**, these are observations within the first **12,000 active sale records** read in document-ID order. The audit stopped at its limit; it is not the whole inventory or a representative national sample.

The four communes below show how many priced apartments pass that simple asking-price filter. Each figure describes records captured in this audit, not all apartments currently for sale in the commune.

| Commune | Apartment records asking up to €600,000 | Priced apartment records audited |
|---|---:|---:|
| Luxembourg City | 239 | 1,210 |
| Differdange | 168 | 224 |
| Esch-sur-Alzette | 191 | 309 |
| Sanem | 57 | 155 |

That is a useful budget shortlist. It is not an eligibility count, because the proposed tax test uses a different value.

## Why the proposal cannot be tested with today's asking price

As of **19 October 2026**, [bill 8800](https://www.chd.lu/fr/dossier/8800) remains a proposal in committee. The government's [draft budget text and examples](https://budget.public.lu/dam-assets/lb/budget2027/links-dokumenter/web-mfin-budget-2027-vol1-v1.pdf) describe the **€600,000** threshold by reference to the dwelling's depreciable value **at original completion**. The proposed test is not simply today's asking price, or a fixed percentage of it. A buyer needs the relevant historical documents, not a valuation guessed from an advertisement.

The proposal concerns accelerated depreciation at **6%** and includes conditions for acquisitions in **2026**. It does not establish a universal year-end deadline for every investor. The [July announcement](https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2026/07-juillet/16-meisch-roth-booster-wunnengsbau2.html) is useful background, but the later draft contains more precise conditions. Confirm the final text and the treatment of the particular property before committing.

Current [ACD guidance](https://impotsdirects.public.lu/fr/az/l/logem_loc.html) also separates land from the depreciable acquisition or cost basis. This is why even a carefully chosen asking-price ceiling cannot replace a documented tax basis. Our existing [depreciation guide](/en/insights/amortissement-3x6-investissement-locatif) covers the general framework; this audit tests what the advertisements themselves can establish.

## Where the audit finds F–I records—and missing evidence

Across the retained **7,365 residential records**, **5,165** have a usable, consistent primary energy label. Of those, **1,402** are labelled **F–I**. Another **2,200** have no usable consistent label; conflicting stored labels are included in that last group.

| Commune | Residential records audited | Usable primary label | F–I label | No usable consistent label |
|---|---:|---:|---:|---:|
| Luxembourg City | 1,431 | 1,024 | 233 | 407 |
| Differdange | 342 | 220 | 92 | 122 |
| Esch-sur-Alzette | 383 | 232 | 114 | 151 |
| Sanem | 238 | 161 | 55 | 77 |

These are apartments and houses together. They identify records worth investigating, not homes with a known renovation bill or an approved tax treatment. A missing label is not evidence of good or poor performance. Request the certificate and a building assessment; our [Energiepass checklist](/en/insights/cpe-energiepass-buyer-checklist-luxembourg) explains the document checks.

## The 10% rule applies to expenditure, not an F–I purchase price

The [ACD's March notice](https://impotsdirects.public.lu/fr/archive/newsletter/2026/nl04032026.html) confirms the enacted increase to **10%** from tax year **2026** for qualifying sustainable energy-renovation investment expenditure. Its [current rental-property guidance](https://impotsdirects.public.lu/fr/az/l/logem_loc.html) ties that category to qualifying energy works for which the specified financial aid is granted. The energy class alone does not satisfy those conditions.

The decision is therefore between documented projects, rather than between two headline tax percentages. For a lower-energy home, obtain the works specification, ownership and co-ownership approvals where relevant, cost quotations and the applicable aid records. Have the tax treatment checked against those expenses. The purchase price of the whole property is not the renovation spending.

## Worked example: a Differdange shortlist before you sign

For example, the **168** Differdange apartment records asking up to **€600,000**, out of **224** priced records in this audit, give you candidates to inspect. The next step is to request each candidate's original completion-value records and any works evidence; the price filter cannot supply them.

A well-priced home with a credible rent, a funded works plan and an established tax treatment may justify a purchase before the final legislation is settled. Waiting also has costs if a suitable property disappears. The counterargument is real: the right individual deal can matter more than a national policy timetable.

What would change our conclusion is a documented completion-value history and a confirmed tax treatment for the exact purchase, or qualifying works and aid evidence for the renovation. Those records can turn a shortlist into an assessable investment; more precise arithmetic on the same advertisement cannot.

Use the [depreciation comparison](/en/financial-tools/investors/amortissement-3x6) with documented inputs and its stated limitations, then budget the property's rent and costs separately. Would you sign before year-end if the asking price fits but the completion-value or renovation records are still missing?

## Methodology

Calculated on 19 October 2026 from a fixed projection of the first 12,000 active buy records ordered by Firestore document ID, captured at 11:33 UTC. The read limit was reached: this is an audited subset, not a random sample or national census. Keep only catalog-visible, available individual apartment/house records, excluding explicit foreign/cross-border records, places not exactly matched to registry commune names or slugs and the Steinsel location-quality hold. Country absent defaults to the platform's Luxembourg classification; it is not fresh address certification. Retained residential sample n=7365. Types use the platform apartment/house groups. Primary energy is usable only when the stored A–I primary labels agree; absent, invalid or conflicting labels are unusable. Prices must be positive numeric asking prices and not on request. Small flats use recorded living area from specs.area, then area, from 10 to 120 m², and asking price/m² from €500 to €40,000. Medians give each record equal weight and round to the nearest euro. A nonempty stored VAT source phrase is not proof that its interpretation is correct. The stored 3%-included flag count additionally requires ratePercent=3 and priceIncludesVat=true. Records may duplicate the same home. No eligibility is inferred, no market share estimated and no trend claimed. This dated audit changes only after a new capture and review. See /en/prices/methodology for the wider asking-price distinction.

## Limitations

These are listing records in a bounded, non-random subset, not unique homes, completed transactions or the whole live inventory. Property mix, agency coverage, missing fields and possible duplicates limit comparisons. An energy label, asking price or advertised VAT basis cannot certify tax eligibility. No original completion-value records, qualifying renovation expenditure, grant awards or applicable social-VAT median-cap table were joined. Proposed rules are described as proposals as of 19 October 2026.

## Sources

- chathome.lu production listing audit, captured and calculated 19 October 2026; n=12000 read, n=7365 retained residential records; immutable projection SHA-256 b0a5a45c87d059ef1d07580bd7d0163640d9f1c2a463b3bfaa284bf62dbcbad2.
- Chambre des Députés, bill 8800, status checked 19 October 2026: https://www.chd.lu/fr/dossier/8800
- Draft Budget 2027, depreciation text and explanatory examples, accessed 19 October 2026: https://budget.public.lu/dam-assets/lb/budget2027/links-dokumenter/web-mfin-budget-2027-vol1-v1.pdf
- ACD rental-property depreciation guidance, accessed 19 October 2026: https://impotsdirects.public.lu/fr/az/l/logem_loc.html
- ACD notice of 4 March 2026 on enacted energy-renovation depreciation, accessed 19 October 2026: https://impotsdirects.public.lu/fr/archive/newsletter/2026/nl04032026.html
- Government July housing announcement, accessed 19 October 2026: https://gouvernement.lu/fr/actualites/toutes_actualites/communiques/2026/07-juillet/16-meisch-roth-booster-wunnengsbau2.html

## Frequently asked questions

### Does an asking price below €600,000 qualify a home automatically?

No. The budget proposal refers to depreciable value at original completion. Our asking-price counts cannot establish that historical value or the other conditions.

### Does the 10% rate apply to the whole price of an F–I home?

No. ACD describes qualifying sustainable energy-renovation investment expenditure. A primary energy label alone does not establish qualifying expenditure or the required aid evidence.