TAIPEI (TVBS News) — Taiwan's average household wealth surged to a record high of NT$18.89 million by the end of 2023, the Directorate-General of Budget, Accounting and Statistics (DGBAS, 主計總處) reported on Tuesday (April 29). However, soaring housing prices and rising mortgage rates pushed average household debt to a new high of NT$2.42 million.
Census Department (國勢普查處) Deputy Director Tan Wen-ling (譚文玲) noted that Taiwan's stock market reached 17,931 points by the end of 2023, marking a 26.83% increase from 2022's 14,138 points. This stock market rally contributed to an annual rise of NT$1.16 million in average household wealth, with NT$610,000 stemming from securities, primarily stocks.
The statistics agency calculated the 2023 average household wealth increase at 6.56%, a two-year high, based on 9.12 million registered households nationwide. Real estate values rose by NT$40,000 to NT$5.76 million, while securities increased to NT$3.41 million. Time deposits and foreign exchange deposits, impacted by interest rate effects, grew to NT$2.38 million, a 7.21% increase.
Average household financial liabilities reached NT$2.42 million by the end of 2023, an increase of NT$110,000 from the previous year, primarily due to rising mortgage debt. Life insurance and pension fund reserves increased to NT$4.11 million, reflecting longer life expectancy and improved labor pension fund returns. Excluding these, net average household wealth stood at NT$14.77 million, a 7.65% rise.
