Statistics Portugal revised its data on household wealth and concluded that average net wealth increased by 21% in real terms between 2020 and 2024.
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Statistics Portugal revises household wealth data
The National Statistics Institute (INE) revised the results of the Survey on the Financial Situation of Households (ISFF) for 2024, after identifying an error in the calculation of the weights used in the analysis.
Following the revision, average net wealth of households in Portugal increased by 21% in real terms between 2020 and 2024, below the 29% initially reported in May.
INE also indicates that the average net wealth per household in 2024 was revised downwards by around 7%. Despite this change, the main conclusions of the analysis remain unchanged.
Net wealth reaches €278,300
According to the updated data, average net wealth of households reached €278,300 in 2024, while the median value reached €143,300.
Net wealth corresponds to the difference between the value of assets held by a household and the amount of its debts. Both the average and median values recorded real growth of approximately 21% compared with 2020.
The evolution was mainly driven by the increase in the value of real assets, which grew by 21.1% on average over the period analysed.
Housing influences wealth growth
The growth in real assets was largely associated with the appreciation of housing. Rising house prices contributed to increasing the value of Portuguese households’ property assets. The new data therefore show that household wealth continued to grow between 2020 and 2024, although at a slower rate than initially estimated by INE.
According to the institute, the revision does not alter the overall reading of the Survey on the Financial Situation of Households. The wealth of Portuguese households maintained a positive evolution, with real assets, particularly housing, playing an important role in this growth.
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