According to data from the European Central Bank (ECB), the value of households’ gross wealth exceeded €1 trillion in the first quarter of 2025, reaching its highest level since 2011.
The increase in household wealth over the past three years is attributed to the rise in both financial wealth (deposits, bonds, listed shares, financial business wealth—unlisted shares and other corporate holdings—mutual/ investment funds, and life insurance products) and non-financial wealth (real estate and fixed assets other than real estate).
In Greece, the gross wealth of 90% of households originates primarily from real estate—a fact linked to the consistently high homeownership rate in the country—and secondarily from deposits and financial business wealth.
As for the “wealthiest” 10% of households in Greece, their asset composition is more diversified. The share of non-financial to financial wealth narrows significantly (55% versus 45%). The value of other categories of financial wealth—namely bonds, listed shares, mutual/investment funds, and life insurance products—represents a considerable portion that reaches 13% of their total gross wealth.
At the euro area level, real estate remains the primary source of wealth. For 90% of households, the share of real estate in total wealth is slightly lower compared with Greece (69% versus 72%), while for the “wealthiest” 10% of households, the share stands at levels similar to those in Greece (46%).
Unlike Greece, the share of financial business wealth in the euro area is rather limited—except for the “wealthiest” 10% of households—while a notable difference is observed in the shares held in other categories of financial wealth.
Specifically, the share of this category in total gross wealth is significant across all deciles (8% on average in deciles 1–9 and 20% for the “wealthiest” 10% of households), in contrast with Greece, where it represents a substantial share only for the “wealthiest” 10%. This is largely attributed to the considerable weight of life insurance products in total household wealth in the euro area (7% on average across all households).
Although the proportion of non-financial wealth in total gross household wealth has remained consistently high in Greece, it is useful to examine how the composition of total wealth by asset type has evolved in recent years.
In addition, using the decile classification of households, as presented by the ECB based on net wealth (i.e., gross wealth minus household debt), the composition of wealth is analyzed by wealth segment and compared with that of the euro area. The results reveal significant similarities as well as differences in the distribution of asset ownership both among households in Greece and in comparison with the euro area.
In the first quarter of 2018, the year in which the Greek economy began to recover, total gross household wealth approached €0.8 trillion, with 73% derived from non-financial wealth and the remaining 27% from financial wealth.
Seven years later, total gross household wealth at current prices has increased by more than €200 billion. This rise may be attributed to the revaluation of existing assets as well as, to some extent, the creation of new wealth, while the ratio of non-financial to financial wealth has shifted slightly in favor of the latter (67% versus 33%).
The value of all asset categories increased during this period; however, the rise in the value of financial wealth sub-categories was significantly greater than that of non-financial assets. This reflects, among other factors, the country’s credit rating upgrades and the recovery of investment-grade status, which resulted in an increase in their share of total gross household wealth.
The largest increase in share was recorded in financial business wealth, followed by mutual/investment funds, bonds, and listed shares, while the share of deposits and life insurance products remained almost unchanged.
