Ekonomia

How much wealth does an Albanian family have on average?

How much wealth does an Albanian family have on average?

An Albanian family has an average wealth of 8.5 million ALL.

A survey on the wealth of Albanian families, by Bank of Albania specialists Elona Dushku and Ola Çami tries to give an idea on the balance sheets of Albanian families. The asset survey was done by dividing it into two main groups: real assets, including real estate, businesses, vehicles, valuables, etc. and financial assets, including current accounts, deposits, treasury bills and bonds, pension funds as well as money owed debt.

The average value of assets per household is about ALL 8.5 million, but the median (the point where half of the reported values ​​are above and the other half are below) is significantly lower, about ALL 5.7 million. Significant differences between the mean and median are generally an indicator of inequality in the distribution of the statistically measured indicator.

To a large extent, the property of Albanian households consists of real assets and mainly real estate. Real assets make up 93% of the household balance, while specifically real estate, mainly housing. Real estate in general

and the main dwelling of the family in particular, make up 80% of the total portfolio of the total family wealth. The median and average value of the main apartment are 5 million and 5.9 million ALL, respectively. The method of measuring the value of the main dwelling is not based on the market price, but on the households' expectation of the value at which they could sell it at the time they were asked.

Despite the fact that this method may carry measurement errors as a result of the perception element, researchers argue that families make decisions based on their expectations for the future and on accumulated wealth, and therefore it is necessary to take this into account. to analyze family behavior.

93% of Albanian families own, in whole or in part, their main dwelling.

Other significant assets are vehicles, which are owned by 40% of households, followed by other real estate, which is owned by 36% of households. Among all real estate (except the main apartment), 71% of households own a land, 12% of households an agricultural farm, while 17% of them own another form of real estate

Assets that are less owned by households are family businesses, which are owned by 13% of households, as well as valuables, which are owned by 12% of households. The median of the total value of real estate, based on the self-declaration made by the family is 5.9 million ALL, while the average is 6.8 million ALL.

In terms of financial assets, they make up on average about 7% of the wealth of Albanian households. Data on the rate of holding financial assets show that 16% of households have at least one financial asset, indicating a low financial inclusion of households. Viewed by different categories, it is observed that 10% of households have current accounts, 7% of households have deposits, 5% of households have lent money to others, and a very small part of households have pension funds and securities of government. The average value of financial assets per household is ALL 0.53 million, but the median is much lower, at about ALL 0.3 million.

* This article was published by Monitor.al and reposted by Tiranapost.al