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After deducting the debts, the value of household savings and financial investments rose to 1,158 billion euros. That is converted to slightly more than 100,000 euros per inhabitant.
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The Belgians are richer than ever, according to figures from the National Bank. Their net financial assets grew by EUR 10 billion in the first quarter to EUR 1,158 billion. That wealth is already 57 billion more than just before the start of the corona crisis.
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The increase in assets at the beginning of this year was mainly due to the sharp rise in the stock markets.
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The increase in assets at the beginning of this year is due to the sharp rise in the stock markets. Equity markets benefited from the stronger-than-expected economic recovery and continued stimulus from central banks and governments. As a result, households recorded a capital gain of 10.7 billion on their investment portfolio.
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Investment funds (8.9 billion) and listed shares (4.9 billion) in particular increased in value. On average, funds invest about half of their assets in equities. But there was also less good news. Insurance products, which mainly invest in bonds, were worth 4.4 billion less due to the rise in interest rates.
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The essence
- The net financial wealth of Belgians rose by EUR 10 billion in the first quarter to EUR 1,158 billion.
- This increase is due to rising stock markets.
- For the first time, the average Belgian has a financial wealth of more than 100,000 euros.
Real estate wealth is greater than financial wealth.
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In addition, households have saved or invested 3.3 billion euros in investment products. They parked more money in savings and current accounts and bought mutual funds. But at the same time, the Belgians sold insurance products and debt securities, such as bonds and savings certificates. The popularity of bonds and savings certificates has been declining for years as a result of low long-term interest rates.
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Debt
Debt rose by 4 billion. Mortgage loans in particular increased. The sharp rise in house prices forces many compatriots to borrow more when they buy a house or apartment.
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Households have savings and financial investments worth 1.478 billion euros. After deducting 320 billion euros in debt, the net financial assets amount to 1.158 billion. That amount corresponds to about 100,400 euros per inhabitant. It is the first time that the financial wealth of the average compatriot has exceeded 100,000 euros.
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The new figures from the National Bank do not take into account the even larger real estate assets.
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The new figures from the National Bank do not take into account the even larger real estate assets. The average Belgian had real estate assets of more than 144,000 euros at the end of last year, De Tijd calculated.
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Average wealth data should be interpreted with caution. They hide vast differences and are boosted by the wealth of multimillionaires. About two thirds of Belgians own less than the average and a third more.
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