According to data released by the Fondazione Fiba of First Cisl from ECB and Eurostat records, Italian household net wealth reached 11,333 billion euros at the close of 2025, marking the lowest growth rate compared to the main European economies. Wealth polarization has intensified sharply, with the top 5% of families holding over half of total net wealth while the bottom 50% owns just 7.3%.
The Bottom Line
- Lagging Asset Accumulation: Italian household net wealth grew by just 22.8% between 2015 and 2025, trailing far behind Germany’s 87.3% and Spain’s 56.6% gains.
- Extreme Concentration: Unlisted shares and equity capital drove 45% of Italy’s total wealth growth since 2015, with 98.3% of those assets concentrated in the wealthiest decile.
- Weakened Savings Buffer: The Italian gross household saving rate sits at 10.7% in 2025, down significantly against the Eurozone average of 14.32%.
The Widening Wealth Gap Across the Eurozone
At the end of December 2025, total household net wealth in the Eurozone hit 68,521 billion euros. Germany led regional holdings at 19,867 billion euros, followed by France at 14,054 billion euros, Italy at 11,333 billion euros, and Spain at 8,484 billion euros, according to the Fondazione Fiba report presented in Rome.
But the balance sheet tells a different story about momentum. Over the decade spanning 2015 to 2025, Italy’s net wealth expansion crawled upward by 22.8%. Compare that to Germany’s 87.3% surge, Spain’s 56.6% increase, and France’s 42% growth. Consequently, Italy’s share of total Eurozone household wealth eroded from 21.7% down to 16.5%.
Financial assets explain much of this divergence. Out of the 2,107 billion euros in total wealth added by Italian households since 2015, roughly 45% (937 billion euros) came from unlisted shares and other capital titles, which expanded by 102.7%. Crucially, 98.3% of these instruments are held by the top 10% of households. This concentration accelerated markedly during the 2020 to 2025 period, deepening structural inequality across the peninsula.
Stagnant Disposable Incomes and Compression of Savings
Asset price divergence tracks directly with fundamental income stagnation. Between 2015 and 2025, Italy’s gross disposable household income crept from 1,132.8 billion euros to 1,455 billion euros, registering a 28.4% gain. By contrast, German disposable income climbed 48.3%, French incomes rose 41.1%, and Spanish households posted a 53.8% increase.
This sluggish income growth directly impairs the capacity to save. Gross household savings in Italy moved from 125.7 billion euros in 2015 to 161.1 billion euros in 2025, a meager 28.2% expansion. Meanwhile, France and Germany saw savings grow by 80.7% and 64.4% respectively, while Spain recorded a 134.2% increase.
At 10.7%, the Italian gross saving rate in 2025 represents the lowest among major Eurozone economies, falling well short of the 14.32% Eurozone average. Germany and France posted saving rates of 19.2% and 17.2% respectively, while Spain reached 11.9%.
Comparative Balance Sheet Metrics
| Metric (2025) | Italy | Germany | France | Spain | Eurozone Average |
|---|---|---|---|---|---|
| Net Wealth (Billion €) | 11,333 | 19,867 | 14,054 | 8,484 | 68,521 (Total) |
| Wealth Growth (2015–2025) | +22.8% | +87.3% | +42% | +56.6% | N/A |
| Gross Saving Rate | 10.7% | 19.2% | 17.2% | 11.9% | 14.32% |
| Disposable Income Growth (2015–2025) | +28.4% | +48.3% | +41.1% | +53.8% | N/A |
Real Estate Valuation and the Property Market Divide
Real estate remains a primary pillar of Italian household assets. According to Istat figures cited in corroborating reports, approximately 74% of Italian families live in owner-occupied housing. Real estate accounts for 46% of total gross household wealth in Italy, trailing the Eurozone average of 56.9%.
Price dynamics further illustrate Italy’s relative underperformance. Using Eurostat transaction data indexed to 100 in 2015, Italian housing prices reached 116.1 by 2025. Across the broader Eurozone, the index climbed to 153.7.
