House prices in Luxembourg stabilize
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Luxembourg’s housing market stabilized during the first half of 2009, after two years of house price falls. House prices rose by 0.30% (0.42% in real terms) during the year to Q2 2009, according to Observatoire de L’ Habitat.
Apartment prices rose 0.74% (0.82% in real terms) y-o-y to Q2 2009. Dwelling prices were stabilized by lower interest rates, in a context where variable interest rates dominate. In 2007 and 2008, real house prices had dropped by an average of 2.2% each year.
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