The net wealth of Romanian households exceeded the RON2 trillion mark in 2018, reaching an all-time high in 2019 with 7% growth.
The average net wealth per capita, meaning financial and real estate assets minus debt, stood at EUR23,400 in 2019, while the average debt per capita stood at EUR1,760, according to the central bank’s latest financial stability report.
Real estate assets, which account for over 80% of net wealth, grew 10% on the year in 2019, to nearly RON1.74 trillion, while net financial assets declined 5.7%, to RON417.8 billion.
The central bank noted continued preference for safe investments in deposits and cash, which accounted for 45% of total financial assets at the end of 2019.
Romania’s household assets amount to around 225% of the country’s gross domestic product. In the euro area, assets are approximately five times higher than the GDP.
Romania’s total household debt grew 7% in 2019, to RON162.2 billion, driven by increased lending, particularly on the mortgage segment.