Buyers have put down an average of around €100,000 and taken out a loan for more than €700,000 for a Luxembourg City-Centre apartment in 2020, per a recent Athome Finances report.
The average mortgage for a home purchased in Luxembourg City-Centre so far in 2020 has amounted to nearly €730,000, with loans representing roughly 88% of the total purchase price for a flat, according to Athome Finances.
An apartment in the centre costs an average of €830,789 and a house €1,456,639, the mortgage broker said on 5 October.
The city centre has become increasingly popular, despite continually rising prices, Athome Finances stated.
Buyers borrowed on average €729,096, with a down payment of around €102,770. For 93% of buyers, the mortgage was for a primary residence.
Acquirers were typically aged 30 to 39, married, and earned between €3,000 and €3,500 per month.
68% opted for a flat because it is less expensive than a house. “But note that the real estate supply in this part of the grand duchy is mainly made up of this type of property”, Athome said in its press release. Buying existing homes remained popular, making up 64% of all loans.
Originally published in French by Paperjam and translated for Delano