National economic assets in 2010: a sharp rebound fuelled by higher real-estate prices

Nathalie Couleaud et Léa Mauro, division Synthèse générale des comptes, Insee Frédéric Delamarre, Sesof, Banque de France

France's national economic assets pulled out of a two-year decline to gain 9.5% in 2010. The aggregate exceeds €13 trillion, the equivalent of 7.8 years of net domestic product. The rebound was driven by the steep rise in real-estate prices across all resident institutional sectors. For example, households' non-financial assets-consisting mainly of real-estate assets-rose sharply. Combined with the growth in financial assets, the uptrend drove total household assets to well above their level prior to the 2008 crisis. The net worth of financial and non-financial corporations also rose in 2010. By contrast, net central-government assets continued to decline. However, the downturn was milder than in 2009 thanks to the rebound in real-estate asset values.

Insee Première
No 1382
Paru le : 16/12/2011