€1581 is the average monthly rent figure given by the CBRE real estate agency after a survey of residents in Luxembourg in 2022. This is the first such CBRE survey.
600 people took part in the survey. They talked about different aspects of their lives: among them, the tenant composition of their household, the features of housing, whether these people own housing or rent it.
63% of renters in the Grand Duchy live in apartments. Slightly more than 25% rent a home. The rest prefer studios and student dorms.
The actual rental costs average is 1403 euros per month. Another 178 euros are spent on utility bills. Hence the final amount of €1581 per month. Less than a quarter of those surveyed pay >1000 euros per month for an apartment. And 13% spend >2000 euros on housing.
What’s the financial situation of the tenants? In the survey, 56% of participants noted that both partners in their household earn money. 37% live alone, 7% rely on their partner in financial matters. The spread of income among the respondents is large — from €20 000 to €80 000.
83% would rather buy a home than rent. But 75% are prevented from doing this by financial difficulties.
Finally, many people in Luxembourg lack comfort. 32% are willing to pay more for a house with a pretty garden, 23% yearn for a terrace, 22% need parking, 16% want high-speed internet. And 7% want to live on the top floor without noisy neighbors upstairs.
Recently the government has confirmed, that it will support those who can’t pay the high rent. Those with payments overdue won’t be evicted until spring.