Central Bank of Luxembourg publishes 2023 household finance survey results showing median net wealth of EUR 676,000 and average debt of EUR 150,000

The Central Bank of Luxembourg published a study paper presenting the main findings from the fifth wave of the Luxembourg Household Finance and Consumption Survey (HFCS) for 2023, a representative survey used to compile detailed data on households’ assets, liabilities, income and consumption and to assess how debt and wealth are distributed across the population. Based on a weighted sample of 3,699 resident households, the results show that real assets accounted for 81% of total household assets in 2023, with an average value of EUR 1,058,000 per household; vehicles were held by 84% of households and the main residence by 62%. Financial assets represented 19% of total assets, averaging EUR 249,000 per household, and were dominated by bank deposits (45% of financial-asset value), which were held by 97% of households. Half of households were indebted (down 3.5 percentage points from 2021), with mortgages accounting for 90% of total debt by value; average debt fell 7% to EUR 150,000 per household and the share holding consumer loans declined to 20%. Median net wealth was EUR 676,000, down 6% in nominal terms and 15% in real terms versus 2021, while wealth inequality was broadly unchanged, with the top 5% holding around one-third of total net wealth. The next survey wave is scheduled for October to December 2026 and is intended to assess the impact of subsequent macroeconomic developments, including changes in inflation and interest rates, on household wealth and indebtedness.