Home > Statistics > Indebtedness > 2007 > Preliminary data on indebtedness: indebtedness of private persons has increased most in young age groups

Published: 3 July 2008

Preliminary data on indebtedness: indebtedness of private persons has increased most in young age groups

Forty-one per cent of private persons in Finland had outstanding debts in 2007. Twenty-three per cent of all individuals had housing loans. The relative share of indebted persons was highest in the 30-39 age group, three-quarters of whom had debts. The share of indebted persons was notably smaller among the aged population. Only one in four of over 60-year-old persons and roughly one in eight of over 70-year-old persons had debts. The shares of persons with debts and persons with housing loans have both grown since 2002. The share of persons with debts has grown most in the 30-34 age group.

Share of persons with debts by age group in 2002 and 2007, per cent of persons in age group

At approximately 59 per cent, the relative share of persons with housing loans was also the highest in the 30-39 age group. In addition, more than one-half of persons in the 40-44 age group had housing loans. Since 2002, the share of persons with housing loans has grown most, or by over ten percentage points, in the 30-39 age group.

The amount of debt per an indebted person was approximately EUR 39,000 in 2007. The average amount of debt was the largest in the same age groups where the share of indebted persons was also the highest. In the age groups from 30 to 44 the average amount of debt exceeded EUR 50,000. The youngest age groups had larger than average housing loans. Whereas the average approximate amount of housing loan was EUR 49,000, the average amount of housing loan among 20 to 39-year-olds was over EUR 60,000.

Indebtedness has increased in Finland quite rapidly. The total amount of debts has grown by 86 per cent and the amount of housing loans has more than doubled since 2002. The amount of housing loan per a person with a housing loan has grown by approximately 60 per cent since 2002. The growth is four percentage points less than the growth of the total amount of debt per an indebted person.

These preliminary data derive from Statistics Finland’s statistics on indebtedness. The basic data for the statistics have been drawn from the Tax Administration’s database which contains exhaustive data on the whole population. The preliminary data are based on unverified data on individual persons. A release containing a closer examination of indebtedness among households by gender, age and various regional levels will be published from these statistics in October.

Source: Statistics on indebtedness 2007, Statistics Finland

Inquiries: Juha Honkkila (09) 1734 3651

Director in charge: Riitta Harala

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Updated 3.7.2008