The value of gross household wealth in Greece exceeded 1 trillion euros in the first quarter of 2025, compared to €800 billion in the first quarter of 2018, according to data from the European Central Bank, which Alpha Bank analyzed in its “Economic Developments Bulletin” on Tuesday.
All categories of wealth, financial and non-financial, increased. Real estate, which dominates non-financial wealth, maintains its leading role, but its participation in total wealth decreased from 64% to 60%.
The share of the other category of non-financial wealth, business wealth, which concerns fixed assets, also decreased from 9% to 7%. In contrast, the share of financial wealth, which includes deposits, bonds, listed shares, financial business wealth (unlisted shares and other corporate holdings), mutual/investment funds and life insurance products, increased from 27% to 33%. This means that – although all households increased their wealth – the richest segment was proportionally more favored, since it mainly owns financial wealth – i.e. shares, mutual funds, bonds, etc.
According to the data published by the Alpha Bank Bulletin, in the richest 10% of households, financial wealth represents 55% of total wealth, compared to 45% of non-financial wealth. In the remaining 90% of households, financial wealth is around 20% of total wealth.
However, previous data showed that in Greece, wealth inequality is limited compared to the EU average and per capita wealth is slightly below the European average, unlike per capita income, where it is in penultimate place.
According to ECB figures for the second quarter of 2024, the poorest (by net wealth) 50% in the eurozone held just 5% of total net wealth, while the corresponding percentage in Greece held 12% of wealth. The richest 10% in the eurozone held 57% of total net wealth, while in Greece it was 45%.
Another important element highlighted by Alpha is that the increase in wealth is mainly explained by the appreciation of existing assets and to a certain extent constitutes the creation of new wealth.
Comparison with the EU highlights some key features of the Greek economy, such as the high rate of home ownership, as well as the low rate of life insurance products.