Italy household wealthier than Germany

Rome: The combined wealth of Italian households was “slightly above that of German families” at the end of 2017, according to a report by the Bank of Italy and statistics agency ISTAT.

The report, released this week, stressed, however, that the “international comparability (of wealth data) remains imperfect”.

It said that at the end of 2017, the net wealth of Italian households stood at 9.743 trillion euros, eight times their disposable income.

It was ownership of homes was the main component of this wealth, with a value of 5.246 trillion, meaning it accounted for half of gross wealth.

Total household liabilities equalled 926 billion euros, a level which, compared to income, Italian families were less in debt than those in other countries, the report said.