Luxembourg apartment prices continue to rise
(CS) Purchase prices for apartments in Luxembourg continued to rise in the last quarter of 2012, marking the third quarter in a row with an increase in prices.
The rate was higher for new apartments (2.5 percent) than flats in older buildings (1 percent).
Between the final quarter of 2012 and the same time in 2011, prices for apartments in the Grand Duchy rose by an average of 3.8 percent. Again, prices increased more for new apartments (5.8 percent) as opposed to older apartments (2.8 percent).
Looking at the whole of 2012 in comparison to the year 2011, apartment prices rose by 5.1 percent, with 6.3 percent for new flats and 4.5 percent for older ones.
In the final quarter of 2011, the average price to buy an apartment was 321,637 euros, at an average size of 78 square metres.
In 2012, this had risen to 346,019 euros. While the average size also increased to 82 square metres, the price per square metre still rose from 4,136 euros in 2011 to 4,224 euros last year.
A more detailed report is available in French on statec.lu