A little richer, household wealth in Spain on the rise

A little richer
WEALTH: Spanish worth more than last year. Photo credit: Twitter

RECENT figures published by the Bank of Spain covering the first quarter of 2017 show household wealth is on the rise.

During the first three months of the year, it increased by 1.74 per cent – by €1.32 trillion – and 8.5 per cent compared to the same point last year.

Net personal wealth is measured as the difference between someone’s assets – cash, shares, savings, income and fixtures such as homes, land and vehicles – and liabilities, or debts.

By the end of March this year, assets over liabilities showed a positive balance in Spain of €2.111 trillion – 4.8% more than a year previously.

The Bank of Spain says the increase in wealth is linked to net acquisition of financial assets to the tune of €39 billion over the first quarter of 2017 and between April and December 2016 inclusive, and these having risen in value by around €58bn, largely due to more extensive buying of share capital.

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