Slovakia Has Lowest Wealth Inequality in OECD, Driven by High Home Ownership Rates

Slovakia has the lowest level of wealth inequality among all members of the Organisation for Economic Co-operation and Development (OECD), a grouping of 38 mostly wealthy nations, largely because a high proportion of Slovak households own their homes. The wealthiest 10 percent of households in Slovakia control roughly one-third of total national wealth — a stark contrast to the United States, where the same top decile controls approximately three-quarters of all wealth. The OECD has warned, however, that rising property prices and higher mortgage interest rates risk undermining this relative equality by making it harder for younger people to purchase homes, potentially deepening the divide between those who already own property and those who rent. While most Slovak households currently own their residences — a legacy in part of mass privatization of state housing following the fall of communism — the concern is that future generations may not enjoy the same access to home ownership, which has historically served as the primary vehicle for wealth accumulation in the country.