Taiwan’s household wealth reached record high in 2023

2023年台灣家庭財富創歷史新高

Household net worth hit average NT$18.89 million, driven by strong stock market performance


TAIPEI (Taiwan News) — The average net worth of Taiwan’s households reached a record NT$18.89 million (US$590,497) in 2023, according to the latest national wealth statistics released by the Directorate General of Budget, Accounting and Statistics on Tuesday.

This marks a year-on-year increase of NT$1.16 million, or 6.56%, despite economic challenges such as weak terminal demand and inventory adjustments. The record high is largely attributed to a strong performance in Taiwan’s stock market, which saw the Taiwan Stock Exchange Weighted Index, or TAIEX, rise by 26.83% throughout the year, per CNA.

Notably, the stock price of major companies such as TSMC also surged, significantly boosting household wealth. DGBAS official Tan Wen-ling (譚文玲) explained that the stock market's exceptional performance offset broader economic slowdowns and helped households gain substantial wealth.

The average net worth of households in 2023, when recalculated with land valued at market prices, includes NT$5.76 million in real estate, which saw a modest increase of NT$40,000, NT$3.41 million in securities, and NT$2.38 million in time and foreign currency deposits, both of which benefited from rising stock prices and higher interest rates.

Real estate remains the largest asset category for Taiwanese households, accounting for 30.5% of total assets. This is followed by life insurance reserves and retirement funds at 21.78%, and securities, which make up 18.05%.

Cash, demand deposits, time deposits, and foreign currency deposits contribute 13.54% and 12.58%, respectively.

While household net worth grew, so did financial liabilities. The average domestic liabilities per household rose to NT$2.42 million, an increase of NT$110,000 from the previous year, mainly driven by higher mortgage loans.

The household composition in Taiwan includes the applicant and their spouse, parents, and children. It also encompasses direct blood relatives who reside in the same household or share a common residence, such as grandparents, maternal grandparents, grandchildren, and great-grandchildren, according to the Ministry of Health and Welfare.

Individuals recognized as dependents for comprehensive income tax purposes are also considered part of the household.