**Greek Households Experience Rise in Income and Wealth, Reports Alpha Bank**
Greek households have reported a positive trend in both disposable income and overall wealth over the past two years, according to a recent bulletin from Alpha Bank. The bank attributes these gains to several factors, including stronger employment rates, increased economic activity, a booming tourism sector, and the country’s restored investment-grade status.
In its latest economic developments bulletin, Alpha Bank noted that while household finances have improved, Greece still significantly lags behind the eurozone average in terms of disposable income. Despite this, the wealth position of Greek households appears relatively stronger.
The report highlights that gross disposable income for households in Greece has been on a steady upward trajectory, increasing at an average annual rate of nearly 5%. This trend continued into the first quarter of 2026, where disposable income saw a year-on-year increase of 3.2%. Notably, this rise in household income has outpaced the average annual inflation rate of 3% during the same period, allowing families to recover some of the real income losses experienced during the inflation surge of 2022 and 2023.
However, despite the increase in disposable income, the bank reported that savings have remained negative, hovering around -3% of gross disposable income. This indicates that private consumption has exceeded household income in nominal terms, suggesting that some spending is being financed through other means, such as savings accumulated during the pandemic and increased bank borrowing. Consumer loans within the domestic banking system have also seen significant growth, with a reported increase of 6.9% over a 12-month period as of June.
Alpha Bank further explained that as the value of household assets rises, so does the sense of financial security among families, which can lead to increased spending—a phenomenon known as the wealth effect. The bank attributed much of the improvement in household income to higher employment levels and robust economic activity. In particular, income growth in 2024 and 2025 was primarily driven by wages and salaries, with additional contributions from operating surplus and mixed income among self-employed individuals and sole traders. These categories continued to rise in the first quarter of 2026, with increases of 4.3% and 6%, respectively.
Property income also played a positive role in the income growth observed during 2024 and 2025, albeit to a lesser extent. However, the increase in gross disposable income was partially offset by direct taxes, which are positively correlated with household income.
On the wealth front, Alpha Bank reported a significant increase in the value of household assets in Greece, which has been on the rise since mid-2022 and has accelerated over the past two years. This growth is attributed to both the appreciation of existing assets and the creation of new wealth. According to data from the European Central Bank, gross household wealth in Greece surpassed €1 trillion at current prices by the fourth quarter of 2025, marking a cumulative increase of 19%, or €161 billion, over the years 2024 and 2025.
Among financial assets, mutual and investment funds have notably more than doubled in value during this two-year period. Other financial assets, such as financial business wealth and listed shares, also experienced growth, while bonds, life insurance, and deposits followed behind. In terms of non-financial assets, real estate values rose by 16%, and non-financial business wealth increased by 13%.
The report also highlighted a significant shift in the composition of household wealth in recent years, with a growing balance in favor of financial wealth over non-financial wealth. In the fourth quarter of 2018, when Greece's economic recovery was beginning, financial wealth constituted only 26% of total household wealth.
As Greek households continue to navigate the evolving economic landscape, the findings from Alpha Bank suggest a cautiously optimistic outlook for future income and wealth growth, driven by ongoing improvements in employment and economic conditions.