Report

Luxembourg Residential Tenant Survey 2023

What are tenants’ profiles and preferences in Luxembourg?

October 17, 2023 5 Minute Read

Lux Residential Tenant Survey 2023

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For the second year in a row, CBRE launches its Residential Tenant Survey. More than 500 tenants across the country took part between April and August 2023, sharing their experiences and expectations as tenants - a way for our experts to better understand the Luxembourg residential market.

 

 

Highlights from our survey include:

 

 

Household composition and income

 

Single people (without children) are the most represented (37%), followed by couples (without children).

39% of respondents said they lived in a household where both partners had an income, compared with 61% who had only one source of income. 

 

Property type and average surface area

 

Apartments are by far the most popular, with 63% of renters in Luxembourg reporting that they live in an apartment, followed by studios (11%), terraced houses (4%), 4-sided houses (5%) and student rooms (4%).

 

According to our survey, 60% of rented properties in Luxembourg are between 50 and 99 m², with an average size of 85 m². 

 

Rent levels

 

In terms of monthly rent, the average reported cost is around €1,497/month, with an additional €193 in monthly charges. This includes all forms of rented properties, from apartments, student rooms and studios to terraced and detached houses. For apartments, the average rent calculated based on the responses is €1,537/month, plus €208/month for charges.

 

 Lease duration

 

The average rental period in Luxembourg is 3.8 years, with a median of 2 years.  Tenants expect to stay in their current residence for an average of 5.2 additional years. The median declared duration is 3 years.

 

Constraints

 

Home ownership is a goal for many individuals and families, and it's important to note that 76% of renters surveyed would prefer to buy rather than rent. But 42% of them say they can't because they don't have enough money for the down payment, and a further 21% can't afford the monthly mortgage payments.