Household wealth: A regional analysis for Malta and Gozo using the HFCS
Valentina Antonaroli, Martina Cassar & Valerio Sergio Castaldo
Abstract
In this paper we analyse the components of households' wealth from a regional dimension, a novel approach not yet exploited for the Maltese Islands. We use data from the Household Finance and Consumption Survey to study if there are substantial differences at regional level, with an emphasis on Gozo. We focus on the changes which might have occurred between the last two consecutive waves of the Survey, conducted in 2017 and 2021. Our findings show that Gozo has consistently remained one of the wealthiest regions in Malta, with real estate properties being the main determinant. Although house prices have increased across all Maltese regions, in Gozo the shift from larger, often multi-level homes to smaller residences, typically in the form apartments has led to a more modest increase in the overall wealth of Gozitans than initially expected. Despite this, Gozo's household finances remain robust, characterized by decreasing debt levels and rising consumption rates relative to previous survey periods.