Compared with the same quarter in 2017, Luxembourg housing prices rose in the fourth quarter of 2018 by over 9%.
The data, released by Eurostat on Thursday, reveals that Luxembourg is well over the EU and euro area average of 4.2%.
However, Luxembourg didn’t have the highest annual increases overall, with Slovenia (+18.2%), Latvia (+11.8%) and the Czech Republic (+9.9%) topping the list of year-on-year change based on Q4. Prices fell in Italy by 0.6%.
The Housing Observatory published a report in Q3 of 2018, in which it found that rents rose annually between 2008-2017 by 3%, but that rent prices were increasing much less than housing due, in part from the supply of housing not meeting the demand due to increased migration.