Luxembourg's happy progress continues
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The average price of houses soared by 7.75% (7.57% inflation-adjusted) during the year to Q3 2016, according to the Ministere du Logement, after slower y-o-y growth in the first two quarters: 3.11% in Q2, and 3.07% in Q1. Apartment selling prices increased by 7.53% y-o-y (7.35% inflation-adjusted) in Q3 2016, following robust price rises of 5.37% and 6.31% in Q2 and Q1 2016, respectively.
During the latest quarter, house prices were up by 3.29% (3.35% inflation-adjusted), apartments were up by 2.86% (2.92% inflation-adjusted). Property transactions rose by 1% y-o-y to 6,333 units in 2016, according to the National Statistical Institute (STATEC)..
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