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Published: 13 July 2017

Households’ net worth grew to EUR 575 billion in 2016

Households' financial assets stood at EUR 293 billion and non-financial assets at EUR 436 billion at the end of 2016. Over the year, financial assets increased by EUR 13 billion. Non-financial assets grew by EUR nine billion. The most important items in non-financial assets are buildings and land. Households' debts also grew. The increase amounted to EUR eight billion while the level rose to EUR 155 billion. Households' net worth calculated as the total of financial assets and liabilities and non-financial assets, thus, grew to EUR 575 billion. The growth from 2015 amounted to EUR 15 billion. A majority of this, or EUR ten billion was generated by holding gains from financial assets. Households’ net worth has grown continuously since 2008. These data appear from Statistics Finland's financial accounts statistics.

Households’ financial assets and liabilities, non-financial assets and net worth 2007–2016, EUR billion

Households’ financial assets and liabilities, non-financial assets and net worth 2007–2016, EUR billion

Households’ net assets have grown for eight years in a row

Households’ net worth, i.e. the total sum of their financial assets and liabilities, as well as other assets have improved continuously since 2008. In 2016, the level of net worth, EUR 575 billion, is EUR 141 billion higher than in 2008. The development has been affected by growth in both net financial assets and non-financial assets. Growth in net worth has been possible even though households’ indebtedness has also increased year by year. The growth in financial and non-financial assets has, however, been faster than the growth in indebtedness.

The indebtedness of households continued growing in 2016 but especially the favourable development of share prices and growth in other assets resulted in households’ total net worth growing. In 2016, the growth in net worth amounted to EUR 15 billion.

Deposits still continue as the biggest individual financial investment instrument. Despite low interest rates, households had EUR 83 billion in financial assets in them at the end of 2016. This corresponds with 28 per cent of all households’ financial assets. Deposits increased by EUR three billion. The shift from fixed-term deposits to cash deposits continued as it had in previous years.

The total value of quoted shares and mutual fund shares held by households was EUR 57 billion or 20 per cent of households’ financial assets. Growth from the end of last year was more than EUR five billion. Nearly all of the growth came from holding gains. Net investments both in quoted shares and mutual fund shares remained at a low level as in the past few years. Net investments in mutual fund shares were EUR 0.5 billion positive while net investments in quoted shares barely rose to positive.

Households’ indebtedness ratio continued growing

Households' indebtedness ratio has risen annually nearly continuously since 1997. The indebtedness ratio also grew in 2016 as loan debts increased by EUR five billion. Households' loan debts stood at nearly EUR 143 billion at the end of 2016. The growth in loan debts raised households' indebtedness by 2.2 percentage points over the year to 126.4 per cent. Households' indebtedness is calculated as the ratio of their loan debts at the end of the year to their total disposable income of the year.

Households’ indebtedness ratio 1977 to 2016, loan debt in proportion to disposable income

Households’ indebtedness ratio 1977 to 2016, loan debt in proportion to disposable income

Source: Financial Accounts, Statistics Finland

Inquiries: Peter Parkkonen 029 551 2571,

Director in charge: Ville Vertanen

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Updated 13.7.2017

Referencing instructions:

Official Statistics of Finland (OSF): Financial accounts [e-publication].
ISSN=1458-8145. 2016. Helsinki: Statistics Finland [referred: 27.2.2024].
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