The Luxembourg Household Finance and Consumption Survey (LU-HFCS): Introduction and Results

This paper introduces the Luxembourg Household Finance and Consumption Survey (LU-HFCS), presents its background and aim, the field phase, the data treatment, including editing, imputation, and anonymisation, and some basic descriptive findings. The estimated average (median) total net wealth of Luxembourg households is about EUR 733,000 (EUR 403,000) - an extremely high value by international standards, which is likely to be driven by high incomes and correspondingly high prices of real estate in Luxembourg. Average total gross income and total net wealth generally increase with household size, with age up to retirement age and with education. On average, total gross income of Luxembourg national and foreign households do not seem to differ significantly. This cannot be said for total net wealth and net real wealth, which, on average, is more than double as high for Luxembourg households than for foreign households.