The average cost of buying a house was up 3.8% and buying a flat was up 4.5% last year Altogether, residential property prices rose “more than 50% over the last ten years”.

The numbers are from the “Luxembourg Market Report 2018” issued by Engel & Völkers, a global property broker, on 16 April.

Engel & Völkers stated in a press release:

“Almost one third of the owners in Luxembourg were investors from all over the world compared to two thirds of owner-occupiers. International buyers accounted for 63% of all real estate transactions in 2018. Among them, the majority are French (21%), followed by the English (12%) and then the Belgians (8%).”

The firm also wrote that:

“In 2019, we expect residential property prices to rise by around 5%. The imbalance between housing supply and demand is expected to increase given the arrival of international workers on the Luxembourg market, probably reinforced by Brexit.”

Rent rose 8.3% between 2017 and 2018, Engel & Völkers said.