Greece’s wealth is growing—but Greeks are still struggling

Greece’s average wealth per adult rose by 7% in 2024, according to the UBS Global Wealth Report, but many citizens are not feeling any richer.

The study shows modest growth in both average and median wealth—suggesting broader improvement—not just gains among the very rich. Still, high living costs, stagnant wages, and rising rents are leaving many households financially squeezed.

Wealth in Greece is mostly tied to real estate, which is rising in value but difficult to spend or convert into cash. Meanwhile, the number of millionaires in the country fell, dropping by over 2,300 people in one year—contrary to global trends.

UBS warns against being misled by averages, as most Greek families still lag behind their Western European peers in real economic terms.