The per capita wealth of Italians is growing in 2021, but it is less than other countries – the economy

At the end of 2021, the net wealth of Italian households, measured as the sum of real estate assets (houses and land) and financial assets (deposits, securities and shares) net of financial liabilities, was 10,422 billion, or 176,000 euros each. per capita. Wealth increased by more than 300 billion in current values ​​compared to the previous year (+3%), continuing the trend of 2019 that was not interrupted by the pandemic. This can be read in the Istat-Bankitalia note which specifies, however, that wealth in real terms fell by 1.1%, in contrast to 2020 (+1.7%), and in terms of income it fell from 8.71 to 8.66.

Moreover, the financial liabilities of Italian households increased by 3.7%.exceeding the threshold of 1,000 billion at the end of 2021. “In particular, an increase in the loan component (+ 3.8%) was noted,” the survey confirms.

Real estate assets of €6,186 billion increased by 0.3% at current prices (+16 billion), primarily due to the impact of housing (+0.4%; +23 billion), whose value registered growth for the former. time since 2012. Instead, the value of non-residential real estate declined (-1.5%), continuing the ongoing deflationary phase since 2012. Financial assets (5,237 billion) registered stronger growth than real assets, equivalent to 6.6% (against the value of formula) of 325 billion), mainly driven by equities (+150 billion) and mutual fund units (+89 billion).

The growth in deposits (+70 billion) was also significant, although less sharp than what was observed in 2020 (+104 billion). Stocks of bonds have continued to decline since 2012. Financial liabilities increased by 3.7%, crossing the 1,000 billion mark. In particular, an increase in the loan component was noted (+ 3.8%).

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In contrast to what was recorded in 2020, the growth in the financial wealth of households again benefited significantly from capital gains (+4.3%, for a total increase of $ 210 billion), linked primarily to shares and units of the municipal fund, while the contribution of transactions amounted to about 2.3%.

Measured by population, the per capita net wealth of Italian households at the end of 2021 was lower than that of all other countries, except for Spain (where the latest available data dates back to 2020). According to the Istat-Bank of Italy report, since 2018, growth in per capita wealth has been modest for households in France, the United Kingdom, Germany and Italy and more sustainable for Canadian and American households, thanks to the favorable dynamics of financial assets.

Thelma Binder

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