ING News: In Luxembourg, over 7 out of 10 renters would like to own property!

According to the latest ING International Survey on real estate, over 70% of Luxembourg residents who rent say that they would like to own a property, while only 2% of owners would rather be renters.

In addition, a large majority of residents–both owners and otherwise–seem to prefer to buy a property, not necessarily to live there but as an investment alternative.  87% of owners and 74% of renters surveyed considered purchasing a property to be a smart financial decision.

This convergence of viewpoints may be explained by how much people spend each month on housing, which is equivalent for owners and renters. 58% of owners and 52% of renters say that they pay EUR 1,000 or more for housing.

So what prevents renters from becoming owners? Going by the responses given, 46% of renters estimate that, given real estate prices, they will probably never be able to afford to buy a property. 

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