Portuguese household net wealth rises 67% since 2010 to 1,196 billion euros

Wealth rises with property values

Household net wealth in Portugal, meaning the value of assets after debts are deducted, reached 1,196 billion euros in 2025, according to Banco de Portugal statistics published on Tuesday, 20 October. That is 480 billion euros more than in 2010, when it stood at 716 billion, an increase of 67%. The central bank says the rise came mainly from property and financial assets. Measured against gross domestic product, however, net wealth was about 390% in 2025, ten percentage points lower than in 2010. The ratio peaked at roughly 433% in 2020, which the bank ties mainly to the fall in economic activity during the pandemic.

The bank summarised the nominal gain in a single sentence.

Despite the sizeable nominal increase, household net wealth has largely moved in line with the economy.

Housing still the largest asset

Real estate held by households rose from 473 billion euros in 2010 to 708 billion in 2025, an increase of almost 50%. The bank attributes this mainly to higher property prices. Even so, real estate's share of household assets slipped from 54% to 52% as other components gained weight. Deposits and equity holdings each reached about 19% of assets in 2025, up from 16% and 14% in 2010. The mix varies sharply by wealth level, since real estate made up about 74% of assets for households below the median, but less than 40% for the richest tenth.

The bank's explanation for the property figure is direct.

This increase reflected mainly the appreciation of properties over the period.

Concentration and the median household

The richest 10% of households hold almost 59% of total net wealth, while the half with the least wealth holds about 6%. Among the richest tenth, equity stakes in companies, listed or not, make up 28% of assets, a more varied mix than the rest of the population holds. Median household net wealth rose from 77,000 euros in 2010 to 104,000 euros in 2025, while the euro-area median climbed from 106,000 to 151,000 euros. As a result, Portugal's median fell from about 72% of the euro-area level to 69%. Half of Portuguese households had net wealth below 104,000 euros in 2025.

Debt and the housing shortage

Home loans still account for most household debt, at 77% of liabilities in 2025, down from 82% in 2010, while other borrowing rose from 18% to 23% over the same period. A separate PÚBLICO article published on 21 October says house prices rose 180% over the past decade and that foreign investment linked to real estate reached 3.9 billion euros in 2025. The same article cites a Banco de Portugal estimate that about 300,000 homes are missing in Portugal. Governor Álvaro Santos Pereira considers that public and private investment in building lacks sufficient urgency, and construction is still not keeping pace with rising prices.