Altea Immobilière SARL has issued the results of a survey it has undertaken concerning the rental accommodation market in Luxembourg, under its Furnished.lu brand which is leader of the short-term furnished colocation service in Luxembourg.
It has compiled comparative data and undertaken a statistical analysis to reveal a number of interesting facts about the Luxembourg rental market, particularly colocation.
Luxembourg each year welcomes thousands of young expatriate workers in search of a first professional experience. Often inaccessible due to moderate income or uninsured (trial period clauses), the real estate market can not meet this demand of accommodation.
The figures come from recent studies (February 2016) conducted internally across its client portfolio (974 clients during 2015). To facilitate the understanding and comparison with other European capitals, data on Berlin, Madrid, Paris and London has been presented together.
In Luxembourg city, average prices to rent a room in a colocation situation (i.e. a room within an apartment or house) amounts to €800/month (€650 when far from the centre). This figure is between the prices in Berlin (€400 / €313) and Madrid (€451 / €305), and those in Paris (€844 / €520) and London (€950 / €656).
Meanwhile, monthly charges in Luxembourg (for two people) averages at €100, compared to Berlin (€100), Madrid (€145), Paris (€200) and London (€173).
In Luxembourg, those seeking colocation offerings are made up of 86% aged under 35 and 14% aged over 35, with 40% being stagiaires / interns. 40% are French, with 9% Italian, 7% Spanish, 6% Belgian and 6% German.
