On Tuesday, atHome released statistics concerning the current state of Luxembourg's housing market.
According to atHome's press release, the cost of renting houses and apartments in Luxembourg has risen by around 10% in the last year. The average price of a rental apartment in March lay at €1,520 per month. The cost of renting a house in March was almost double at €2,900 per month.
atHome based its findings on prices attached to listings published between March 2018 and March 2019 on atHome.lu. In total, the internet real estate portal considered 21,800 listings for its statistics.
The internet real estate portal attributes the cause of increasing rental prices to the fact that 65% of all rental properties are located in the centre of Luxembourg and in the immediate area surrounding the capital.
atHome's statistics also revealed that buying properties remains expensive, prices having risen by 12% for apartments and 11% for houses in the last year. This increase had previously been noted in the autumn of 2018.
An older apartment has an average price tag of €486,000, whereas an older house costs an average of €813,000.
New-build apartments accordingly cost more than older apartments, having an average price tag of €583,000. The internet real estate portal also outlined that two-bedroom new-build apartments are most frequently put up on the market, making up 44% of new-build listings.
The statistics also examined the cost of apartments and houses per square metre. The average cost of a square metre in an apartment stood at €5,700, whereas square metres in houses were slightly cheaper at €4,400. The highest prices per square metre can, of course, be found in the area surrounding Luxembourg City, where some apartments and houses cost around €8,000 per square metre.