Average wealth has doubled in only 15 years. In 1997 the average Belgian household was only worth 230,200 euros. The share of this wealth coming from real estate has risen from 40% to 60%. Three-quarters of households today own at least one property.
ING says that this means there is a risk if the real estate market performs badly.
Because of widespread homeownership Belgium's prosperity is relatively evenly divided. In addition to real estate the average Belgian has savings and investments worth 212,800 euros. As a result of the financial crisis more was deposited on savings accounts and less ended up in bonds and shares. A quarter of Belgians' wealth is now deposited on savings accounts, but ING has identified a recent return to more risky investments.