Luxembourg's housing predicament takes center stage ahead of elections
Luxembourg, renowned as the wealthiest European Union member per capita, finds itself grappling with a dire housing crisis, thrusting it into the spotlight as the nation's 660,000 residents prepare for the upcoming elections.
Pascale Zaourou, a dedicated teacher and mother of three, sheds light on the hurdles of securing affordable housing, stating, «On the private market, renting a two-bedroom apartment costs a minimum of 2,000 euros, posing significant challenges for single-income households.» She underscores the acute scarcity of affordable housing, particularly impacting young individuals and single-parent families.
Antoine Paccoud, a researcher at the Housing Observatory, substantiates these concerns by revealing that «an increasing number of Luxembourgers are seeking refuge across borders in countries like Germany, Belgium, or France, drawn by more reasonable rent and property prices.»
Despite its robust financial services-driven economy, Luxembourg grapples with a stark contrast in housing affordability. The average net earnings for a single worker in Luxembourg in 2022 reached a staggering 47,000 euros, ranking as the highest within the EU.
In the capital city, newly constructed apartments command prices of 13,000 euros per square meter, while older units fetch approximately 10,700 euros.
