Renters paid on average €935 for a studio in Luxembourg in March 2018
Rents on smaller apartments in Luxembourg crept up over the past 12 months with renters paying on average €935 for a studio in Luxembourg.
According to real estate platform athome.lu, the cost of renting one-bed flats or studios increased by on average 5% from March 2017 to March 2018.
Overall, flat rents stabilised, rising by just 1% over the same period, the real estate firm reported.
The cost of renting a house grew strongest at 6%, driven by a 9% rent increase in smaller homes of up to two bedrooms.
The findings are based on over 21,000 advertised prices from real estate listings posted on athome.lu’s website. According to athome.lu, six out of ten rental adverts were for properties in the Centre region. It means that while the findings create a strong snapshot of rental costs in this area, it does not closely reflect the situation in the rest of the country, which is subject to large variations.
Property prices continued to rise with the last 12 months showing an average 3% increase in apartment prices and 5% for houses. Buyers could expect to pay €5,137 per square metre for an existing apartment in Luxembourg in spring 2018, or €4,000/m2 for a house. Average prices for new-build apartments rose 4% to €6,307/m2.
Athome.lu observed the central and southern areas remained the most attractive regions for people investing in property. Four out of ten sale adverts related to properties in this area.