Your Daily BriefToday's most important news in one place

The Central Bank of Luxembourg survey shows decline in wealth in Luxembourgish households

The reasons for this decline in wealth are mainly to be found in the real estate market and on the stock exchange, as the value of investments has declined for those who can afford to invest. The average net wealth of households in Luxembourg stood at €1.157 million in 2023.

Adjusted for inflation, this represents a decline of 18%. Net wealth includes real estate, cars, and other so-called tangible assets, minus debts.

One factor behind this trend is the drop in property prices during that period. However, according to the central bank, access to property ownership has become more difficult. The share of households that owned their primary residence fell from 65.6% in 2021 to 61.7% in 2023. In 2018, that figure was 69%.

At the same time, in 2023, 32% of households owned additional properties besides their main residence. However, even households that rent their home are usually still car owners. In 2023, 84.2% of households owned at least one car, although this share has been slightly declining, having fallen by almost four percentage points since 2014.

Also today

• The European School in Kirchberg remained closed today following a written shooting threat discovered on a toilet door.
• The trial regarding the 2019 death of two-year-old Emran began Monday, seven years after a two-tonne ice sculpture collapsed at Luxembourg City's Christmas market
• Around one hundred sites in Luxembourg home to wild honey bees.
• A year into Merz government, German far right party, the AFD, is stronger than ever.
• Allies jolted on defence as Trump pulls troops from Germany.
• A suspected outbreak of hantavirus on a cruise ship, on which three people have died, presents a low risk to the public.
• Iran's navy fired 'warning shots' at US warships in the Strait of Hormuz on Monday, state media said.

On air

Lots of nickname talk on Drive, with wonderful listener Julia leading the charge with some great names for Tom and John. So Drive is now with Tom 'Sweet-Tea' Einersson and John 'Breaking News' Baker!

Figure of the day

400 people taken into care within one year

• At a press conference on Monday marking its first anniversary, Luxembourg's National Center for Victims of Violence (CNVV) announced that nearly 400 people had been taken into care in its first year.
• Since May 1, the central contact point for victims has been open around the clock, and a helpline has also been set up, which operates 24/7.

Stay connected: tune in to RTL Today Radio, now on DAB+, and follow the latest news as it unfolds on our website.