Observatoire de l’Habitat, in exclusive partnership with IMMOTOP.LU, has released its latest reports on the evolution of real estate prices in the 3rd quarter of 2016.

Prices proposed in real estate advertisements

Observatoire de l'Habitat uses, among others, the prices displayed in the real estate advertisements of our real estate portal to monitor developments in the rental and sales market in the Grand Duchy.

Thus, for the 3rd quarter of 2016, it was noted that:

• +1% of houses for sale and + 12% of apartments were offered for sale compared to the same period previous year. In other words, the supply was higher. Then again, prices continued to increase with +3.3% on the advertised price of a home for sale and +2.9% on the apartments, which represents a price increase of +7.8% for houses and +7.5% for apartments within one year.

• For rentals, it has been +23% of houses and +9% of apartments. Compared to the 3rd quarter of 2015, the house rent decreased by -1.3%, whereas the apartment rent became more expensive by 0.8%. More or less these are stable figures, but they do not prevent an increase of 4.9% in both cases over a full year.

With regard to the average prices in the 3rd quarter of 2016:

• For an apartment for sale, it was € 492,205 or € 5,626 per square meter, against € 5,156 in the third quarter of 2015.
• For houses, the average purchase price was € 769.696 or € 4,160 per square meter, against € 3,884 in the 3rd quarter of 2015.
• Apartment rental cost on average € 1,430 for about 70 m² or € 20.28 per square meter, against € 19.46 in the 3rd quarter of 2015.
• The rent of a home for rent amounted to € 2,798 for about 191 m² or € 14,64 per square meter against € 13,35 in the 3rd quarter of 2015.

Of course, these figures also depend on the geographical location, surface area, number of rooms, etc.
Full reports are available on the Observatoire de l'Habitat website: homes for sale and homes for rent.

Real sale prices of apartments

In one year, the average price of an existing apartment increased by 8.7% while the living area gained only by 1.6%.
Specifically, it was necessary to have an average of € 394,245 to buy an apartment in the 3rd quarter of 2016.

For new apartments, the average purchase price decreased by 5.3%, whereas the surface area decreased by 12.6%. In the meantime, price per square meter increased by 11.9%. So buying a new one means, buying cheaper... but smaller.

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