Household net wealth reached €1.196 trillion in 2025, driven by rising property values and financial assets, according to the Bank of Portugal.
According to an analysis by the Bank of Portugal (BdP) on the evolution of household financial assets, the net wealth of Portuguese households increased by 67% between 2010 and 2025, reaching €1.196 trillion, an increase of €480 billion.
The increase was mainly driven by real estate and financial assets, although household wealth remained relatively stable as a percentage of GDP, the Bank of Portugal announced today.
Despite the significant increase in nominal terms, household net wealth largely evolved in line with the Portuguese economy, the report states.
In 2025, household net wealth, calculated as the value of assets minus liabilities, represented approximately 390% of Gross Domestic Product (GDP), ten percentage points less than in 2010, Jornal Económico reports.
The highest value for this indicator was recorded in 2020, when net wealth reached approximately 433% of GDP, “mainly reflecting the reduction in economic activity during the pandemic.”
Real estate remains the largest household asset
According to the Bank of Portugal, residential properties account for the largest share of household assets, followed by deposits and equity holdings, both of which gained importance over the period.
Between 2010 and 2025, the value of real estate increased by almost 50%, rising from €473 billion to €708 billion, in line with the evolution of national accounts, which serve as a reference for wealth distribution statistics.
“This increase mainly reflected the appreciation of real estate over the period,” notes the Bank of Portugal, specifying that “even so, its weight in household assets decreased from 54% to 52%, as other components of wealth gained relative importance.”
Following real estate, equity holdings (including family businesses) and deposits each accounted for 19% of total household assets in 2025, up from 14% and 16%, respectively, in 2010.
Deposits remained the main form of financial investment, although the composition of financial assets “has become more diversified,” according to the Bank of Portugal.
In 2025, household debt remained primarily linked to housing loans, which represented 77% of total liabilities, compared to 82% in 2010.
Wealth distribution remains uneven
The analysis also shows that, between 2010 and 2025, net wealth remained “unequally distributed” among Portuguese families, with the wealthiest 10% holding 59% of total net wealth, compared to just 6% held by the least wealthy 50%.
The Bank of Portugal also concluded that the composition of household assets varies according to wealth levels, with wealthier families holding more diversified portfolios.
“On the asset side, real estate predominates in all groups, but its weight is lower in the wealthier groups,” the analysis concludes, noting that, in 2025, property accounted for approximately 74% of the assets held by families with net wealth below the median, compared to less than 40% among the wealthiest 10% of families.
Deposits also remained an important component of household wealth across all groups, representing between 17% and 21% of household assets in 2025.
Median household wealth increases
In Portugal, median household net wealth, the midpoint separating the wealthier half of households from the less wealthy half, increased from €77,000 in 2010 to €104,000 in 2025. Across the euro area, the corresponding figure rose from €106,000 to €151,000.
Despite this growth, the difference compared to the euro area remained practically unchanged: “In 2010, the median net wealth of Portuguese families corresponded to about 72% of that observed in the euro area; in 2025, it stood at 69%,” states the Bank of Portugal.