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Economics in a picture

Economics in a picture

The median wealth of Portuguese and euro area young households is similar 

3.12.2021

Median net wealth in Portugal and the euro area, by age group | thousand euros

According to data from the Household Finance and Consumption Survey, in 2017 the median net wealth was 75 thousand euros in Portugal and 100 thousand euros in the euro area.

The difference between median wealth in Portugal and in the euro area is not the same for all types of households. For most age groups, as for all households, wealth per household in Portugal is lower than in the euro area. For households aged 55 to 74, for example, wealth is about half the wealth of households in this group in the euro area. In contrast, for households under 35, wealth in Portugal and in the euro area is very similar. This pattern is closely related to the ownership of the main residence, which is the most valuable asset for households. Although the value of houses is lower in Portugal, in the youngest age group the percentage of homeowners is much higher in Portugal than in the euro area. This situation is related to the fact that Portuguese young people leave their parents' house later and more often only when they "start a family" and buy their own house.

 

For further details see Costa, Farinha, Martins and Mesquita (2021). "Household wealth in Portugal and the euro area", Banco de Portugal, Economic Studies, Vol. VII, No 4.

 

Prepared by Sónia Costa, Luísa Farinha, Luís Martins and Renata Mesquita. The analyses, opinions and findings expressed above represent the views of the authors and not necessarily those of Banco de Portugal or the Eurosystem.

 

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