Luxembourg lures talent with top salaries, but housing woes persist
Luxembourg is seeking skilled workers and offers some of the highest salaries in Europe. The average salary there exceeds $6,600 per month. However, experts point out a serious issue with housing availability, which can hinder settling in the country.
9:48 AM EST, November 7, 2024
Analysts from the Focus.de portal examined the situation in Luxembourg's labor market. The report indicates that "the Luxembourg economy is among the most stable in the eurozone." Specialists in the technology, financial, and administrative sectors are particularly in demand. The unemployment rate in this country remains at 5.7 percent.
Salaries at the European summit
The report's authors emphasize that "the minimum wage for unskilled workers is over $2,780, and for skilled specialists, it exceeds $3,330." Luxembourg's tax system is exceptionally favorable for foreign workers. According to experts, taxes and a stable economic situation attract more specialists from across the European Union to the country.
The report states that "German workers more often choose other neighboring countries." According to analysts, this may be because "the German economy still primarily relies on workers from India."
Housing problem hampers immigration
Carole Reckinger from Caritas Luxemburg, in an interview with the Czech portal PoznatSvet, highlights severe challenges in the real estate market. The expert states that "even individuals with good salaries have difficulty finding suitable accommodation."
The growing demand for housing has led to a severe crisis in the real estate market. The report's authors recommend that individuals planning to move to Luxembourg search for housing well in advance and prepare for high rental costs.
