LUX REAL ESTATE OVERVALUED BY 6.85%

The rampant rise of Luxembourg property prices is partly down to an overvaluation, an economist at the BCL, Luxembourg’s central bank, has said.

In a report published on 13.02.2018, Sara Ferreira Filipe found that high residential real estate prices have led to an expansion of mortage credit, “which in turn triggers a further price increase”.

This, coupled with a limited supply and high demand from positive migration, “only partly explains the price dynamics of the residential real estate market in Luxembourg,” she wrote.

The tipping point was a “moderate but continued overvaluation of property prices”. Ferreira Filipe estimated the overvaluation at on average 6.85% since the start of 2012, but says the trend decreased over the last few quarters.

The economist further says that a correction of this overvaluation has been slower in Luxembourg than in other countries “at an average rate of 2.2% of the overvaluation each quarter.”

This, she states, means it will take 31.5 quarters (7.8 years) to reset half of the deviation from the fundamental value.

“In comparison correcting the deviation of mortgage credit from its own fundamentals takes only about a quarter,” the economist wrote, adding: “In sum, the results suggest that an imbalance in the mortgage market is corrected faster than in the real estate market.”

Residential real estate prices rose by 40% in Luxembourg from 2006 to 2016. Latest figures on house prices in Luxemborg

 

recorded a 4.9% increase from the third trimester of 2016 to the third trimester of 2017. A joint report from Statec and Liser found that the average price of a family house reached €649,425, an existing flat €5,002/sqm (+4.7%) and a new flat €6,316/sqm (+6.1%).

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20 most expensive places for expats to rent a home in Europe, 2018 and 2017

Luxembourg City is the 11th most expensive location for rent accommodation in Europe, an annual expat survey has found. 

 

That is down from 9th place last year, according to ECA International, an employee compensation consultancy. The firm said it looked at the cost of renting “an unfurnished, mid-market, three-bedroom apartment in prime areas” of several cities across the globe.

ECA stated that:

“The research compares rental costs in accommodation in areas typically inhabited by expatriate staff in over 240 locations worldwide.”

To carry out its research:

“ECA uses a global network of estate agents, relocation agents and extensive in-house research into worldwide property markets to establish and verify the housing data in the reports.”

In this year’s study, London was by far the most expensive location in Europe, followed by Moscow. A pair of Swiss cities also featured in the top 10.

In addition, ECA reported that:

“One of the highest rent increases in Europe for expats is in Dublin, which enters the top 10 most expensive cities to rent for the first time.”

Eastern European cities such as Prague and Warsaw also saw “sharp increases in rental prices” this year.

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East-Meets-West Meets Modern: The New Nobu Hotel Shoreditch in London

The Nobu Hotel Shoreditch in London is one of the new hotels that was recently added to the Design Hotels portfolio. If the name sounds familiar, it’s because this property is an extension of the Nobu Hospitality Group founded by world-acclaimed chef Nobuyaki Matsuhisa, award-winning actor Robert De Niro, and Hollywood film producer Meir Teper. Inspired by East Asian design and minimalist aesthetics, the hotel lures guests in with its beautiful interiors, Japanese-inspired amenities and immaculately plated Japanese-Peruvian cuisine.

The architecture was designed by Ron Arad Associates and Ben Adams Architects and features a facade made of glass, concrete, steel, timber and bronze which contrasts against Shoreditch’s traditional brick red buildings. Cantilevered steel beams point east as a homage to the country that gave this hotel its inspirations.

Studio Mica and Studio PCH were both inspired to incorporate Japanese culture, art and philosophy into the interiors but with a contemporary eye. A deconstructed pattern based on an ink painting technique called sumi-eappears on the walls throughout the hotel. Textures like clay pottery, wood shoji screens, traditional patchwork, and charcoal stone help to ground the look while modern fixtures/furniture and brass accents give the hotel a modern feel. Custom-made yukata robes and Japanese tea sets take the place of traditional hotel amenities in the guest rooms.

A back-lit staircase leads guests to the hotel’s restaurant and bar, which features a chef’s table, sushi counter and outdoor courtyard, all of which serves Chef Nobu’s signature Japanese-Peruvian dishes and hand-crafted signature cocktails.

Coming January 2018, guests will able to relax in the hotel’s new spa and wellness center which will offer luxury treatments, steam room facilities and treatment rooms for indulgent Shiatsu massages.

What: Nobu Hotel Shoreditch
Where: 10-50 Willow St, London EC2A 4BH, UK
How much? Rooms start at approximately $198 per night.
Highlights: This is the first hotel in London for the Nobu Hospitality Group which has created a name for itself that’s synonymous with luxury hospitality and fine dining. This Shoreditch location is no exception.
Design draw: The hotel has an East-meets-West aesthetic that was created with a contemporary eye.
Book it: Visit Design Hotels

Brexit boosts Luxembourg’s real estate prospects

The city for the first time entered the ranks of the most attractive cities in Europe, claiming ninth spot in an annual real estate forecast published jointly by the Urban Land Institute and PwC.
Luxembourg has been ranked in the top 10 cities in Europe for real estate investment and development in 2018, amid expectations it will benefit from Britain’s departure from the EU.

The city for the first time entered the ranks of the most attractive cities in Europe, claiming ninth spot in an annual real estate forecast published jointly by the Urban Land Institute and PwC.

Brexit underpinned Luxembourg’s place in the rankings, according to the report, which is based on a survey of 800 real estate professionals in Europe.

We see Luxembourg as a very attractive alternative for London. You can already see increasing construction activity there since the Brexit vote,” a Swiss investor said in the survey.

The city’s strong financial sector, its growing economy and major investments in industrial sites, data centres and logistics were all cited as positives.

However, the report said the city is expensive to live in and there are concerns around infrastructure capacity due to a lack of residential, retail and schools planned to accommodate an influx of new businesses.

Real estate investors also find it “hard to place capital” into Luxembourg and yields are low for a small market.

Yields for the best office buildings in prime districts like Kirchberg and Cloche d’Or stand at 4.35%, while in secondary locations in the suburbs yields are between 5% – 6.75%.

The Grand-Duchy’s capital was also ranked fourth overall for an expected increase in rents and capital values in 2018.

London, on the other hand, was expected to see a fall in values on both counts and was ranked 27th overall.

“There is not a lot of tangible evidence of Brexit’s impact on the markets we play in – except in Luxembourg,” said the head of real estate at a European insurance group.

POWERPOINT CLEF FILE3 FIND A PROPERTY

 

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A LOUER PLUSIEURS STUDIOS MEUBLES RESIDENCE UNIVERSITAIRE ESCH/BELVAL Prix 650 € Surface: 20 m² Disponible: IMMÉDIATEMENT

APPARTEMENT
Prix 650 €
Surface: 20 m²
Disponible: IMMÉDIATEMENT

Descriptif :
1 hall d’entrée
1 pièce de vie avec lit et bureau / coin cuisine équipée
1 salle de douche avec wc
1 buanderie commune équipée (machines à laver et sèche-linges)

Caractéristiques : Résidence neuve / Entièrement meublé / Au 4e et dernier étage / Côté Sud / Vue sur arrière (calme) /Chauffage au sol / Ascenseur / Vidéophone

Environnement : Résidence universitaire Galileo Esch/belval / Entrée quartier Square Mile / Bâtiment de l’UNI / Centre commercial / Salle de concert / Restaurant / Cinéma

Commodités : A proximité de l’autoroute / Gare / 30 min de Luxembourg-ville / Lignes bus.

ATTENTION: CES STUDIOS SONT SEULEMENT LOUES A DES ETUDIANTSREF :

Notre référence CCA-LU003436/3437

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YOUS REAL ESTATE AND BUSINESS CONSULTING GROUP S.A.
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Les chiffres de l’immobilier en 2017 au Luxembourg:

Les chiffres de l’immobilier en 2017 au Luxembourg:

  • Loyer mensuel moyen d’un appartement au Luxembourg: 1 412 euros
  • Prix moyen moyen d’un appartement: 425 628 euros
  • Prix moyen d’une maison: 704 576 euros
  • Prix au m2 à Luxembourg-ville: 7  114 euros/m2
  • Immobilier neuf:  47% des appartements neufs sont à Luxembourg-ville

Les prix moyens présentés ci-dessus sont issus de  atHome Magazine – octobre 2017, et se basent sur les prix affichés dans les annonces publiées sur atHome.lu entre septembre 2016 et septembre 2017.

**CHERCHONS POUR NOS CLIENTS A LUXEMBOURG APPARTEMENTS, MAISONS ET TERRAINS**

A VENDRE

APPARTEMENTS, STUDIOS, MAISONS, VILLAS, TERRAINS, DUPLEX, PENTHOUSES, ET MAISONS DE RAPPORT.

A LOUER

APPARTEMENTS, STUDIOS, MAISONS, VILLAS, DUPLEX ET PENTHOUSES

AU LUXEMBOURG CENTRE ET ALENTOURS PROCHES ET COMMUNES LIMITROPHES.

AUSSI NOUS VOUS PROPOSONS :

1. ESTIMATION REELLE

2. VENTE RAPIDE

3. OU ACHAT EVENTUEL PAR NOTRE SOCIETE

YOUS REAL ESTATE AND BUSINESS CONSULTING GROUP S.A.

76/78 Grand-Rue L-1660 Luxembourg

+352 691 22 57 57 OU 27 47 81 41

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☆☆☆ TO LET // A LOUER☆☆☆ BELLE MAISON 4 CHAMBRES SUR LES HAUTEURS DE STEINSEL, AVEC VUE INOUBLIABLE SUR LA VALLÉE DE L’ALZETTE

Rez de chaussée

– Hall d’entrée
– Living / Cheminée
– Cuisine équipée séparée
– WC séparé
– Balcon/terrasse

1er étage
– 2 chambres à coucher ( 12m2, 12m2)
– Salle de douche
– 1 chambre parental (18m2) / Salle de bain 

Sous-sol
– Chambre à coucher 11m2
– Salle de douches / WC
– Caves
– Buanderie
– Chaufferie
-Garage 

Jardin

Caractéristiques : 
Maison libre des 4 côtés / Vues magnifiques au-dessus de la vallée de l’Alzette / Très lumineux / Jardin / Terrasse / Garage 2 voitures 

Environnement : 
Rue calme et sans issue, à l’orée d’un grand bois et de la nature (Steeseler Plateau)

Commodités : 
400 mètres de l’école précoce, maternelle et primaire de Steinsel / a 600 mètres du centre de Steinsel / commerces / transports en commun (ligne 10 de la Ville de Luxembourg) / a 16 minutes du Kirchberg (viaNordstrooss) / à 20 minutes de Luxembourg-centre (via Beggen) / à 10 minutes de Mersch / Ecole Européenne : navettes directes vers Kirchberg (EE1) et Mamer (EE2).


**CHERCHONS POUR NOS CLIENTS A LUXEMBOURG APPARTEMENTS, MAISONS ET TERRAINS**

A VENDRE

APPARTEMENTS, STUDIOS, MAISONS, VILLAS, TERRAINS, DUPLEX, PENTHOUSES, ET MAISONS DE RAPPORT.

A LOUER

APPARTEMENTS, STUDIOS, MAISONS, VILLAS, DUPLEX ET PENTHOUSES

AU LUXEMBOURG CENTRE ET ALENTOURS PROCHES ET COMMUNES LIMITROPHES.

AUSSI NOUS VOUS PROPOSONS :

1. ESTIMATION REELLE

2. VENTE RAPIDE

3. OU ACHAT EVENTUEL PAR NOTRE SOCIETE

YOUS REAL ESTATE AND BUSINESS CONSULTING GROUP S.A.

76/78 Grand-Rue L-1660 Luxembourg

+352 691 22 57 57 OU 27 47 81 41

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Copyright © 2017 Yous Real Estate Group,

All rights reserved. – 

contact@yous.lu