The vast majority of expats are content living in the grand duchy, although high housing costs came as a surprise and longer-term residents regret not buying a home here sooner.
Those are some of the results from a survey released by ING, a bank, on 2 July.
87% of Luxembourg expats who participated in the poll rated moving to the country “a very good decision”. According to ING:
“Living in Luxembourg is a long term decision with 70% of foreign residents stating that they are willing to spend the rest of their lives in Luxembourg. Only a quarter of respondents would like to leave the country when they retire.”
Cost of living
That said, 78% of recent movers “did not accurately forecast the rental or property prices before their relocation.” Eight out of ten said real estate was more expensive than they had anticipated.
More than half (54%) of newcomers said grocery shopping cost more than they had planned and nearly two-thirds (63%) said dining out in restaurants was pricier than they had predicted.
On the flip side, 51% of respondents said petrol was cheaper and 37% said commuting costs were less than expected.
Real estate investment
Despite high property prices, ING stated that:
“73% of expats would advise newcomers to purchase a house within five years of arriving in Luxembourg, according to the study. Only 1 out of 10 recommend waiting for more than 10 years.”
ING worked with TNS Ilres, a polling firm, to survey 227 expats living in the grand duchy. ING said an expat in terms of the study was “a foreign resident in the country of Luxembourg, professionally active, arrived between 1997 and 2016.” The polling took place last year.