Millionaires in NL increased for six consecutive year

The number of millionaires increased for the sixth consecutive year in 2020. According to Statistics Netherlands (CBS), the Netherlands now has 278,000 households with a capital of at least one million euros. The percentage of millionaires is highest in Bloemendaal and Laren.

The number of millionaire households increased by 24,000 compared to 2019. That does not mean that all these people have a million euros in their bank account. The researchers also included other forms of wealth, like the value of their owner-occupied home and shares. They deducted any debts, such as the mortgage.

The group of millionaires has been growing since 2014. In the preceding crisis years, their number remained more or less the same. There are now over 100,000 more millionaires than in 2008. Due to rising prices, a millionaire can now buy less than someone just as rich 12 years ago. If this is taken into account, 35,000 millionaires were added.

The average millionaire household has a net worth of 1.6 million euros. That is 28 times more than the average of other households.

Millionaires often have a lot of capital in companies, in a substantial interest or entrepreneurial capital. Last year this accounted for 45 percent of millionaires' wealth, while 21 percent was in their owned homes. For the average non-millionaire, the house is by far the most valuable asset.

One in four households in Bloemendaal and Laren can call themselves a millionaire, the highest share in the country. These municipalities are also located in the province with the largest percentage of millionaires, namely Noord-Holland. This is followed by Utrecht, Zeeland, and Noord-Brabant. This wealthy group is relatively the smallest in Groningen, Flevoland, and Limburg.