Average prices of renting and buying in Luxembourg05.04.2017
These are the average prices of renting and buying apartments and houses and show the difference since this time last year.
(HP) When it comes to finding a new home there are so many factors to take into consideration.
And for many, cost is at the very top of the priority list.
Whether you are renting or buying in Luxembourg the property market has seen an increase over the past year.
Renting a one or two bedroom apartment has seen the biggest jump since this time last year follwed by buying a new-build flat, according to real estate listings portal, At Home.
Average cost of renting
The average monthly rental cost for an apartment in Luxembourg is currently 1,378 euros and 2,357 euros for a house.
One and two bedroom apartments have seen the largest price hike since last year, costing 7% more than in spring 2016.
But the cost of renting a studio is 3% cheaper than it was last year.
On average, apartment rentals have increased by 2% in one year.
For houses, four and five bedroom homes have seen the largest increase - 8% and 9% respectively since 2016 - although house rents fell by 4% overall over the last six months.
Buying a home
For those buying an apartment (non new-build) prices have gone up 5% in a year and the price of buying a house has increased by 2%.
To own an aparment in Luxembourg potential buyers need a budget of €421,027 on average for an apartment and €691,984 on average for a house.
Large apartments of four or more bedrooms saw the highest price increase - 5% in the last six months - while for houses it was the smaller sized buildings with two or three bedrooms which saw the same percentage increase.
According to At Home most of the adverts on their website are two bedroom apartments or three bedroom houses.
New build homes
There is much demand for new build homes and apartment prices have gone up by 6% in the last year.
The average budget to buy a new apartment is now €509,790 and the average price per square metre has reached €6,093.
Almost half of new build homes on atHome.lu are two bedroom apartments.