Housing prices in the grand duchy have seen a constant increase since 2020 with a 4% increase in the first quarter (Q1) of 2020, +4.3% in Q2, +2.8% in Q3 and +4.6% in Q4, according to data by Eurostat. The EU statistics office estimated a 4.4% increase in housing prices in Luxembourg for the first quarter of 2021, but it projects a rise of just 1.1% in the second quarter of this year.

In the EU, rents and house prices have continued their steady increase in Q2 2021, rising by 1.3% and 7.3% respectively compared to Q2 202, says Eurostat.

Over the period between 2010 and Q2 2021, rents saw a 16% increase and house prices went up by 34%. Over the last ten and a half years house prices have more than doubled in Estonia (+133%), Luxembourg (+111%) and Hungary (+109%). House prices went up in 18 of the EU’s member states during that period. Notable decreases were observed in Greece (-28%), Italy (-13%) and Cyprus (-8%).

In terms of rent, prices in the EU increased in 25 member states between 2010 and Q2 2021. The highest rise was recorded in Estonia (+142%) and biggest decrease in Greece (-25%).

Earlier this year Luxembourg’s national statistics office Statec estimated at €616,553. These figures were related to the last quarter of 2020.