Italian household wealth in 2012

At the end of 2012 net household wealth in Italy was equal to approximately €8,542 billion, averaging €143,000 per capita and €357,000 per household. Real and financial assets amounted to 61.1 and 38.9 per cent of total assets respectively. At just under €900 billion, liabilities were close to 10 per cent of total assets.

In 2012 total net wealth declined by 0.6 per cent at current prices compared with the previous year; the 3.5 per cent drop in the value of real assets, owing to the 5.2 per cent fall in house prices, was only partially offset by the increase in financial assets and decrease in liabilities (4.5 and 0.4 per cent respectively). In real terms (measured by the consumption deflator) net wealth fell by 2.9 per cent compared with 2011. From the end of 2007 onwards, the decline at constant prices has equalled 9 per cent overall.

According to preliminary estimates, in the first half of 2013 net household wealth in Italy declined further, by 1 per cent in nominal terms compared with last December.

At the end of 2012, properties held by Italian households were valued at over €4,800 billion; this represented a drop of 3.9 per cent on the previous year and of 6 per cent in real terms.

Despite the reduction of recent years, Italian households continue to report high net wealth by international standards, equal in 2011 to 7.9 times gross disposable income. The ratios are comparable with those of France, the UK and Japan, and higher than those of the United States, Germany and Canada. Real assets were 5.5 times gross disposable income, lower only to the ratio of French households; notwithstanding the significant increases of the past years, Italian household indebtedness remains relatively low (82 per cent of disposable income).