Press Release - Housing Observatory
March 6, 2012
Residential property prices and rents advertised in the 4th quartar of 2011
Evolution of the recorded selling prices (from the deeds):
In the 4th quartar of 2011, the number of the saled apartment increased significantly compared to the previous quarter. Over one year the sales growth reached +6.8%. It is partly explained by the changing of the conditions for awarding the Bëllegen Akt from 1st January of 2012, which led some buyers accelerate the achievement of their housing project.
On the sales market existing apartments (old market): the average prices per square meter rose sharply in the fourth quarter of 2011: +5,17% over the previous quarter and +6,86% over one year averaged over the country. On the sales market of under construction apartments (new home market): the hight of the average prices per square accelerated: +7,33% for the quarter and +9,14% over the year.
The hight of the recorded prices per m² is even more pronounced at the regional level: for example, it reached +8,44% in one year for existing flats and +11,48% for under construction apartments in the South Central region (which includes the city of Luxembourg). In the southern region, the average selling prices per square meter increased by +4,76% on the market of the former and +4,36% on the new home market in a year.
Evolution of the supply and prices for sale (from the ads):
Evolution of supply and prices for rent (from the ads):
Sharp reduction in the number of ads for apartment rentals for a year (-34,57% over the fourth quarter of 2010), while the number of listings of homes is stable
Lower rents houses announced this quarter (-3,38%), after a sharp rise in the previous quarter. Over one year, the increase remains strong: +7,85%
Continued increase in rents of apartments advertised: +2,12% over the previous quarter and +10,09% over the year
Housing Observatory
Evolution of the recorded selling prices (from the deeds):
In the 4th quartar of 2011, the number of the saled apartment increased significantly compared to the previous quarter. Over one year the sales growth reached +6.8%. It is partly explained by the changing of the conditions for awarding the Bëllegen Akt from 1st January of 2012, which led some buyers accelerate the achievement of their housing project.
On the sales market existing apartments (old market): the average prices per square meter rose sharply in the fourth quarter of 2011: +5,17% over the previous quarter and +6,86% over one year averaged over the country. On the sales market of under construction apartments (new home market): the hight of the average prices per square accelerated: +7,33% for the quarter and +9,14% over the year.
The hight of the recorded prices per m² is even more pronounced at the regional level: for example, it reached +8,44% in one year for existing flats and +11,48% for under construction apartments in the South Central region (which includes the city of Luxembourg). In the southern region, the average selling prices per square meter increased by +4,76% on the market of the former and +4,36% on the new home market in a year.
Evolution of the supply and prices for sale (from the ads):
- Slight increase in the number of offers of selling houses for a year (+1,76%), while the number of announcements of sales of apartments decreases (-4,86%)
- Slowdown in the price increases of the announced houses: +0,44% over the third quarter of 2011, but still +2,27% over one year
- Continued price increases announced for apartments: +1,18% over the previous quarter and +5,58% over the third quarter of 2010
Evolution of supply and prices for rent (from the ads):
Sharp reduction in the number of ads for apartment rentals for a year (-34,57% over the fourth quarter of 2010), while the number of listings of homes is stable
Lower rents houses announced this quarter (-3,38%), after a sharp rise in the previous quarter. Over one year, the increase remains strong: +7,85%
Continued increase in rents of apartments advertised: +2,12% over the previous quarter and +10,09% over the year
Housing Observatory
Residential property prices and rents advertised in the 4th quartar of 2011
Evolution of the recorded selling prices (from the deeds):
In the 4th quartar of 2011, the number of the saled apartment increased significantly compared to the previous quarter. Over one year the sales growth reached +6.8%. It is partly explained by the changing of the conditions for awarding the Bëllegen Akt from 1st January of 2012, which led some buyers accelerate the achievement of their housing project.
On the sales market existing apartments (old market): the average prices per square meter rose sharply in the fourth quarter of 2011: +5,17% over the previous quarter and +6,86% over one year averaged over the country. On the sales market of under construction apartments (new home market): the hight of the average prices per square accelerated: +7,33% for the quarter and +9,14% over the year.
The hight of the recorded prices per m² is even more pronounced at the regional level: for example, it reached +8,44% in one year for existing flats and +11,48% for under construction apartments in the South Central region (which includes the city of Luxembourg). In the southern region, the average selling prices per square meter increased by +4,76% on the market of the former and +4,36% on the new home market in a year.
Evolution of the supply and prices for sale (from the ads):
Evolution of supply and prices for rent (from the ads):
Sharp reduction in the number of ads for apartment rentals for a year (-34,57% over the fourth quarter of 2010), while the number of listings of homes is stable
Lower rents houses announced this quarter (-3,38%), after a sharp rise in the previous quarter. Over one year, the increase remains strong: +7,85%
Continued increase in rents of apartments advertised: +2,12% over the previous quarter and +10,09% over the year
Housing Observatory
Evolution of the recorded selling prices (from the deeds):
In the 4th quartar of 2011, the number of the saled apartment increased significantly compared to the previous quarter. Over one year the sales growth reached +6.8%. It is partly explained by the changing of the conditions for awarding the Bëllegen Akt from 1st January of 2012, which led some buyers accelerate the achievement of their housing project.
On the sales market existing apartments (old market): the average prices per square meter rose sharply in the fourth quarter of 2011: +5,17% over the previous quarter and +6,86% over one year averaged over the country. On the sales market of under construction apartments (new home market): the hight of the average prices per square accelerated: +7,33% for the quarter and +9,14% over the year.
The hight of the recorded prices per m² is even more pronounced at the regional level: for example, it reached +8,44% in one year for existing flats and +11,48% for under construction apartments in the South Central region (which includes the city of Luxembourg). In the southern region, the average selling prices per square meter increased by +4,76% on the market of the former and +4,36% on the new home market in a year.
Evolution of the supply and prices for sale (from the ads):
- Slight increase in the number of offers of selling houses for a year (+1,76%), while the number of announcements of sales of apartments decreases (-4,86%)
- Slowdown in the price increases of the announced houses: +0,44% over the third quarter of 2011, but still +2,27% over one year
- Continued price increases announced for apartments: +1,18% over the previous quarter and +5,58% over the third quarter of 2010
Evolution of supply and prices for rent (from the ads):
Sharp reduction in the number of ads for apartment rentals for a year (-34,57% over the fourth quarter of 2010), while the number of listings of homes is stable
Lower rents houses announced this quarter (-3,38%), after a sharp rise in the previous quarter. Over one year, the increase remains strong: +7,85%
Continued increase in rents of apartments advertised: +2,12% over the previous quarter and +10,09% over the year
Housing Observatory