Housing Prices up 11.4%

The latest report by Statec and the Housing Observatory has revealed that housing prices in Luxembourg rose 11.4% year-on-year in the second quarter of 2019.

This increase represents a clear acceleration of the rates observed in the previous quarters. In 2018, prices had increased by 7.1%, compared to 5.6% in 2017 and 6.0% in 2016.

Nevertheless, the increase in property prices was relatively homogeneous in the different segments: existing apartments, apartments under construction and old houses. 

In 2018-2019, the average price per m2 of existing apartments was €5,742 / m2, whilst that of apartments under construction was €6,646 / m2.

The average price of a single-family home reached €742,335.