The number of millionaires in the Netherlands has increased again. On January 1, 2020, Statistics Netherlands counted 24,000 millionaires more than the year before. In total, our country has 278,000 households with a capital of 1 million euros or more.
In the case of capital, it largely concerns the capital on paper. So not only the savings, but especially the value of the owner-occupied home (minus the mortgage debt) and other assets, such as an interest in a company.
Most millionaires live in North Holland, especially in Bloemendaal and Laren, where one in four households is a millionaire. The provinces of Groningen, Flevoland and Limburg have the least number of millionaires.
Average 1.6 million euros
The rising number of millionaires is the result of economic growth, thriving business, rising stock prices and house prices. Almost half of the wealth of most millionaires consists of property or shares in a company and a fifth of the value of their own home. In the case of non-millionaires, their own home accounts for three quarters of the wealth.
The number of millionaires has been increasing every year since 2014, after a few years of stagnation due to the financial crisis. Since 2008, more than 100,000 millionaires have been added. It should be noted, however, that in 2008 one million euros was worth more than today. If this price development is taken into account, ‘only’ 35,000 millionaires have been added.
On average, a millionaire household has a net worth of 1.6 million euros. That is 28 times as much as the average capital of 56,000 euros of other non-millionaire households. Nearly two thirds of millionaires have assets between 1 and 2 million euros. A quarter have between 2 and 5 million euros and 3 percent, about 8300 households, have assets of 10 million or more.
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