Millionaires numbers are rising again, mostly due to home value – archyde

The number of millionaires in the Netherlands has risen for the sixth year in a row. January 2020 Statistics Netherlands had 24,000 millionaires more than the previous year. Our country has a total of 278,000 households with a capital of 1 million euros or more.

The capital is essentially the capital on paper. So not just the savings, but above all the value of the owner-occupied home (minus the mortgage debt) and other assets, such as a stake 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 fewest millionaires.

Average of 1.6 million euros

The rising number of millionaires is the result of economic growth, flourishing businesses, and rising stock and property prices. Almost half of the wealth of most millionaires is made up of real estate or shares in companies, and one-fifth is the value of their own home. For non-millionaires, home accounts for three quarters of their wealth.

The number of millionaires has been increasing every year since 2014, after several years of stagnation due to the financial crisis. More than 100,000 millionaires have joined them since 2008. It should be noted, however, that 2008 was worth one million euros more than it is today. If you take this price development into account, “only” 35,000 millionaires are 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 in other non-millionaire households. Almost two thirds of millionaires have assets between 1 and 2 million euros. A quarter have between 2 and 5 million euros and 3 percent, around 8,300 households, have assets of 10 million or more.

Reference-www.nach-welt.com

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