CdM | At the end of June, the net financial wealth of households stood at €2.497 trillion, an increase of 9.3% compared to a year earlier, while household debt stood at €719 billion, an increase of 2.5% year-on-year, according to the Financial Accounts of the Spanish Economy published by the Bank of Spain.
As a percentage of GDP, net financial assets represented 152.8%, 4.9 percentage points more than in the second quarter of 2024. On the other hand, household debt fell to 44% from 45.4%. The recent percentages had not been seen since 2000.
Financial assets totalled €3.284 trillion, 7.8% higher than a year earlier. This increase reflected a revaluation of €155.2 billion and a net acquisition of financial assets of €80.2 billion accumulated since the end of the second quarter of 2024.
By financial instrument, the revaluation of assets was largely concentrated in equity holdings. In terms of net acquisition of assets, investment funds stood out, followed by deposits. The increase in financial assets was greater than that of GDP, so the ratio between the two increased by 3.7 percentage points to 200.9%.
In terms of distribution by component, the bulk of household financial assets remained in cash and deposits (34.4% of the total), followed by equity holdings (31.7%), investment fund holdings (16.6%) and insurance and pension funds (11.8%).
The weight of equity holdings in household financial assets and that of investment funds increased by 1.3 and 1 percentage points compared to a year earlier, respectively, mainly due to their revaluation in the first case and transactions in the second.
Conversely, the other instruments lost some weight, with cash and deposits falling by 1.5 percentage points, despite positive net transactions in term and transferable deposits.
