According to the latest ING International real-estate survey, 78% of Luxembourg residents surveyed believe that property prices will continue to increase over the next twelve months; by European standards, this result ranks the Grand-Duchy in second position behind Turkey (81%), while Italy comes in last with 37%. The European average stands at 56%.
When asked for their opinion of the current price for the next twelve months, 89% of residents consider real-estate to be expensive. This is the highest score ahead of Turkey (80%), compared to 47% for the Czech Republic, which ranks last, and a European average of 60%.
The main reasons given for the price surge are location and population increase, in particular for Grand-Duchy residents.
Furthermore, in the Grand-Duchy, fewer homeowners expressed having difficulties in honouring their monthly payments (16%) than rental tenants (29%). This is also the case on average in Europe, although the gap is smaller (24% for owners compared to 26% among tenants). Moreover, in Luxembourg, only 9% of respondents believe that it is preferable to be a tenant rather than an owner, compared to 23% in Europe.
For further details see www.ezonomics.com/ing_international_surveys/homes-and-mortgages-2016/
