Luxembourg rents remain high
(CS) Despite a slight drop in rents between the second and third quarter of 2013, the cost of accommodation rose by over 5 percent for apartments and more than 6 percent for houses.
The “Observatoire de l'Habitat” found that the offer of real estate up for rent in the third quarter of this year was considerably below that of 2012. The amount of listed properties shrank by around 75 percent.
Unsurprisingly, in return, prices rose. Year-on-year, house rents rose by 5.81 percent, with tenants shelling out 6.58 percent more for apartments.
Compared to the second quarter of 2013, however, rent prices dropped slightly – by 3.29 percent for houses and 1.08 percent for apartments.
The average rent for a house in the third quarter of 2013 was 12.40 euros per square metre, compared to 18.13 euros per square metre for apartments.
Luxembourg City ranked above average, both in the turnover of real estate, as well as in princes. Rent was at 15.80 euros on average per square metre for houses and 21.96 euros per square metre for apartments.