Sat. Apr 4th, 2020

Spanish households are 20% richer than four years ago

Spanish households are 20% richer than four years ago


Updated:

The economic recovery has taken off the wealth of homes by 20%. In absolute terms, families are now in their power one trillion euros more than four years ago, according to the Bank of Spain. Of course, the bulk is not hard money, but they have it invested in brick.

The economic crisis meant a drastic depreciation of the Real estate savings for families. And that caused the aggregate wealth of Spanish households to plummet. However, since 2014, the progressive revaluation of housing has increased the value of household assets. And, in addition, these have also seen an increase in money reserves, the result of years of contention in spending and a commitment to savings.

The overall result is that the net wealth (net wealth) of Spanish households now total 6.4 trillion euros, according to the latest data published by the Bank of Spain, regarding the closing of the first quarter of this 2018. Four years ago, however, it was 5.3 billion.

Of that one trillion euro increase, 80% has been thanks to the rebound in the price of housing, and the rest to increase the financial wealth of families.

Since the first quarter of 2014, the real estate assets of Spanish households have been revalued by almost 800,000 million euros. Of course, in the previous seven years it depreciated by almost two billion, after the "bubble" of the brick that had inflated the prices exploded.

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