ING News: 94% of Luxembourg residents think that it is getting more and more difficult to buy a property

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According to the latest ING International Survey on property, the Luxembourg residents surveyed feel that purchasing conditions are becoming less and less favourable for new entrants to the market.

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16/09/2015 |
  • ING infographie final

In fact, almost all (94%) said that it is getting more and more difficult to buy a property, especially for new entrants! If we compare the results at a European level, we can see that the Grand Duchy is leading the way ahead of the United Kingdom (89%), with Germany bringing up the rear, scoring 59%.
The average for Europe is 79%.

When asked how they believe prices will change over the next twelve months, 76% said they think that prices will increase; this is the second-largest score after Turkey (82%) compared with 33% for Italy at the back of the pack and 56% for the European average.

Moreover, when residents were asked their opinion about the impact of low interest rates, many of them (45% in the Grand Duchy to be exact, vs. 29% at European level) said that this drives property prices up.  Note that Luxembourg ranks second with this score, after Turkey (55%), vs. 29% for the European average.

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