Apartment prices show second quarter revival
Apartment prices exploded in Luxembourg City from the first to the second quarter of 2013, with the price tag rising 6.1 percent for existing flats and 3.9 percent on new-builds.
According to a joint report from STATEC and the Housing Ministry's “Observatoire de l'habitat”, the strongest price increases were noted in apartments in and around the capital.
This phenomenon bumped up average apartment prices overall in the country, with a 2.8 percent average price growth at the beginning of 2013. Nationally, older apartments experienced the strongest price increase (4 percent) compared with new-builds (1 percent).
In comparison to the same period in 2012, the growth was even more marked with apartment prices rising 5.1 percent overall.
People buying property during the second quarter of 2013 paid an average 4,210 euros per m2 for existing apartments and 5,048 euros per m2 for new-builds.
These statistics were based on actual transactions reported to the notary office.
To view the report in French, visit www.statistiques.public.lu