ING News: 94% of Luxembourg residents think that it is getting more and more difficult to buy a property
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.
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.
More details can be found on eZonomics.com: http://www.ezonomics.com/ing_international_survey/homes_and_mortgages_2015
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