Properties still have an important role in the structure of the assets of Italian families, considering that according to Istat approximately 74% of households live in their own home.
Well, the weight of real estate assets on the composition of gross wealth is 46%, a lower percentage than the 56.9% of the Eurozone average.
Setting the 2015 value at 100, Italian house prices (calculated on the basis of sales, Eurostat source) will rise to 116.1 in 2025, while in the euro area they reach 153.7.
Germany and France stand at 152.7 and 127.3 respectively while Spain reaches 180.6.
«The increase in the value of Italian properties is therefore much more limited than that recorded in the main economies of the euro area», we read in the First Cisl study.
The wealth of Italian families is increasingly concentrated in the hands of the wealthiest segment of the population.
In 2010, the richest 10% held 52% of total net wealth; as of 31 December 2025 the share had risen to 60.6%.
The concentration at the top is even more marked: the richest 5% went from 39.9% of wealth in 2010 to 50.2% in 2025, the highest level in the eurozone with the exception of Austria and Latvia.
In fifteen years its share has therefore increased by more than 10 percentage points.
The distribution of individual financial assets is skewed towards the richest decile.
The wealthiest 10% hold 43.4% of deposits, 76.7% of debt securities, 93.3% of listed shares, 82.5% of mutual fund shares, 76.9% of life insurance and 98.3% of unlisted shares and other equity investments.
Concentration is therefore "particularly high in the forms of financial wealth most directly linked to investment and participation in capital markets".
On the other hand, the five deciles of poorest families have to deal with 37.9% of the overall debt.
Looking then at the ratio between liabilities and gross wealth, the poorest decile is at 95.6%, a lower figure than that recorded in the majority of euro area countries, in which wealth is negative for the same decile.
The overall indebtedness of Italian families is equal to approximately 10.2% of the euro area (804.7 billion out of 7,927.7), compared to 27.4% in Germany, 22.2% in France and 9.1% in Spain.
The incidence of Italian debt on the total is decreasing: it was 11.1% in 2015.
«In 15 years the wealth of Italians has not been redistributed: it has risen upwards - underlines the leader of the CISL, Daniela Fumarola -.
The richest 5%, one million and 300 thousand families, today own half of the country's wealth, when fifteen years ago they had 40 percent.
The less well-off half, thirteen million families, is left with just over 7 percent.
In the middle there is the middle class, the one who works, pays taxes and keeps Italy afloat, which, net of inflation, has lost between a quarter and a third of what it had.
The wealth of the richest is made up of shares, shares of companies, securities.
Everyone else's is made up of the house they live in and some savings in their account.
Since the stock markets started to run again, those with financial capital have seen their assets grow; those who only had a house and a salary remained stagnant, and inflation did the rest.
A country in which who you are born into matters more than what you know how to do is not only an unjust country: it is a country that wastes its talent, which is why it doesn't grow."
