Irish household net wealth increased by 9.9 per cent last year to a record €1.38 trillion, according to Central Bank data, driven by ongoing growth in home prices to well above their Celtic Tiger-era peak. Net wealth rose by almost 3 per cent – or €40.5 billion – between the ends of the third quarter and fourth quarter, the bank’s latest household wealth report said. The total net wealth of Irish households in December equates to the current respective market values of carmaker Tesla and Facebook owner Meta – and the size of world’s 17th largest economy, Turkey, last year, measured by gross domestic product (GDP). “The overall increase in net wealth was driven by a rise in housing wealth, which increased by €26.4 billion [during the quarter]. Housing wealth accounts for 67.3 per cent of total net wealth and 60.4 per cent of the total assets of Irish households,” the report said. Some 10 per cent of households held almost half – or 47.3 per cent – of total net wealth in the country.Irish residential property prices rose by 7 per cent last year to end up 21 per cent above their property boom-era highs, according to Central Statistics Office (CSO) figures. The national index breached the previous 2007 peak in 2022. The rate of inflation had eased back to an annual rate of 6.5 per cent by March, the latest data shows. Irish households have traditionally had modest engagement with capital markets, preferring to retain savings in bank accounts or allocate them to pension products, rather than invest directly.Households’ financial assets stood at €609.3 billion at the end of December – or and were mainly composed of currency and deposits, at €220.3 billion, and €281.5 billion of insurance and pension entitlements, the Central Bank report said. The Government is currently working on plans to introduce tax-efficient savings and investment accounts next year to encourage people to put money to work in investment products. Banking and Payments Federation Ireland (BPFI) estimates that the planned SIAs may attract as much as €7 billion of investment in the first year of the scheme. Some €20 billion-€30 billion could potentially be put to work in SIAs over time, it added.Sarah McGurrin, head of employee benefits with wealth advisory firm NPF Ireland, said that the latest wealth report does not tell the full story of the state of households’ finance. “Many households will see little direct benefit from this rise, particularly those who do not own property or are still saving to get onto the property ladder,” she said. “Irish households should not assume that wealth growth is guaranteed to continue. Ireland’s economy performed strong last year but the economic outlook for 2026 is uncertain and economic growth is not expected to be as strong this year as it was in 2025.”