New figures from the Central Statistics Office show that household savings increased from €22 billion in 2023 to €25 billion in 2024.
Of this total, €16 billion was invested in fixed assets – mainly new homes, the CSO said.
The remainder was invested in financial assets, such as deposits, pension funds and reducing financial liabilities such as mortgage borrowing, it added.
The CSO said the household saving rate – the proportion of income that is left over after current consumption – was 14.2% in 2024 up from 13.6% in 2023.
Today’s figures show that income and expenditure both rose, with income rising faster than expenditure.
The household saving rate climbed to 14.2% in 2024 up from 13.6% the previous year.
The CSO said that overall household income rose due to higher earnings from work and more investment income, such as deposit interest.
