The annual 'Luxembourg in Figures' released by Statec concludes that housing and its bills are by far the most significant expense of Luxembourgish residents.
The increase is undeniable: in 1998, housing only represented 27.35% of the overall budget, compared to the 36.5% in 2017. What must also be considered is the average household income increase from €4,181 in 2003 to €5,880 in 2017.
This phenomenon can thus only be explained by the significant increase of housing prices: between 2010 and 2017, the average price per m2 increased from €4,000 to €6,500. The average apartment price has gone up from €322,336 to €516,343, but the average surface has not risen.
