BERLIN: A profound generational shift is underway in Germany, a nation long known for its conservative financial habits and a deep-seated love for Betongold (concrete gold), or real estate. The newest generation of investors, Gen Z and Millennials, are boldly turning away from traditional assets and embracing the stock market as their primary vehicle for long-term wealth creation, according to a new pan-European survey from Revolut.
The study, conducted in partnership with market research firm Dynata and bolstered by internal Revolut data, paints a clear picture of a changing financial mindset. For 41% of Germans aged 18 to 24, stocks and Exchange-Traded Funds (ETFs) are now the most important asset class for building their future.
Real estate, the perennial favorite of their parents’ generation, plays a significantly smaller role, cited by only 26% in the same age group.
German Investment Sentiment by Age Group
| Age Group | Prefer Stocks/ETFs for Wealth Building | Prefer Real Estate/Commodities/Savings | Do Not Invest |
|---|---|---|---|
| 18-24 years | 41% | 26% | ~16%* |
| 55-64 years | Significantly Lower | 59% | 44% |
*Note: The 16% figure is for the broader 18-34 age group. Data is representative of the survey findings.*
This trend is powering a new wave of capital market participation. A striking 58% of Revolut’s investors in Germany are between the ages of 18 and 34, demonstrating that this young cohort is not just dipping a toe in the water but is actively shaping the investment landscape.
Their reluctance is markedly lower than that of older Germans; only 16% of 18- to 34-year-olds say they do not invest, compared to a staggering 44% of 55- to 64-year-olds.
“For the older generation, savings books and property were the cornerstones of security. For us, it’s about accessibility, transparency, and growth potential that the stock market offers,” says a sentiment echoed by many young investors interviewed.
The contrast with older Germans is stark. While the youth champion equities, 59% of those aged 55-64 prefer interest-bearing accounts, real estate, and commodities like gold.
A persistent gender gap also remains, with 41% of women in Germany not yet investing, compared to 32% of men. However, there is a silver lining: among Revolut’s young investors, women make up 32%—a figure that, while showing room for growth, is already above the national average.
Perhaps the most surprising finding lies in the dramatic regional divides within the country. The survey reveals a tale of two Germanys: in the city-state of Bremen, a resounding 90% of all respondents see shares and ETFs as the key to wealth creation.
Meanwhile, in Brandenburg, the sentiment is almost the polar opposite, with a mere 26% sharing that view. This chasm highlights how deeply local culture and environment continue to influence investment behavior.
“We see a clear change in Germany,” comments Wiktor Stopa, Head of Growth Western Europe at Revolut. “The young generation is increasingly relying on capital markets rather than real estate to build wealth. They start earlier, invest more consciously, and use modern tools.
At Revolut, we support this trend with transparent and cost-effective offers, as well as ease of use. This lowers the barriers for entry into the capital markets and makes long-term wealth creation accessible to everyone.”
This movement is being facilitated by fintech platforms that demystify investing. With integrated apps offering everything from commission-free ETF savings plans to advanced trading platforms, the barriers that once kept a generation away from the markets are rapidly crumbling, paving the way for a new era of German retail investing.