Two thirds of Luxembourg households own their home

Luxembourg’s home ownership rate is among the lowest in the EU at 68.4% Library photo: Matic Zorman / Masion Moderne

Luxembourg’s home ownership rate is among the lowest in the EU at 68.4% Library photo: Matic Zorman / Masion Moderne

More than two thirds of households in Luxembourg (68.4%) own their own home, Eurostat said on Thursday, one of lowest rates in the EU.

On average, 69.7% of people in living in the European Union own their home, compared to 30.7% of people renting as tenants. But rates varied widely across the bloc, with the highest rate of home ownership in Romania (96.1%), compared to the lowest in Germany (50.4%).

Slovakia (92.3%), Croatia, Hungary (both 91.3%) and Lithuania (88.6%) followed in the top five.

Luxembourg ranked sixth from the bottom, with Sweden, France, Denmark and Austria following ahead of Germany.

The EU statistics office previously reported that house prices in Luxembourg increased 90.5% between 2010 and 2020, the third-highest in the union, behind Estonia (105.1%) and Hungary (92.2%).

The cost of buying a house advanced more quickly than rents, Eurostat said in its report, with an average increase in rents between 2010 and 2020 of 14.6%. Housing costs for people in Luxembourg are around 70% higher than the EU27 average.

Earlier this week, Eurostat said that 24.5% of household spending in Luxembourg goes to housing, including water, electricity, gas and other fuels. This was just below the EU average of 25.7%.