Mortgage defaults in Luxembourg have risen to 1.8% and are roughly double their historical average, the director of finance regulator said on Friday.
That means the ratio of people who cannot pay back their property loans is currently above the current EU average of 1.5%, the CSSF’s Claude Marx told broadcaster RTL.
Corporate loan defaults are “a little over 6%” whereas “historically we stood between 2.7% and 3.5%,” Marx added.
Across 2022 and 2023 that ratio stood between 1% and 1.1%, according to figures banking union boss Jerry Grbic cited in a Luxembourg Times interview earlier this year.
