Number of millionaire households in NL hits new record

The number of millionaires in the Netherlands was up again at the start of this year, with 452,000 households now owning assets worth at least €1 million, according to new figures from national statistics agency the CBS.
That is 17,000 more than a year earlier and means that 5.5% of all Dutch households can now be classed as millionaires. This does not mean they have €1 million in the bank, but that their total assets – including the value of their home minus any mortgage debt – amount to at least that much.
Millionaires are most heavily concentrated in the provinces of Noord-Holland and Utrecht, where around 7% of households are worth at least €1 million.
In the towns of Bloemendaal and Laren, both in Noord-Holland, roughly one in three households are millionaires. Other wealthy towns include Blaricum (25%), Heemstede (24%) and Wassenaar (23%).
At the other end of the scale, fewer than 4% of households in Groningen, Flevoland and Limburg qualify as millionaires. The towns of Brunssum, Heerlen and Kerkrade in Limburg, along with Nissewaard in Zuid-Holland and Den Helder in Noord-Holland, have the fewest millionaire households relative to their population.
Millionaires tend to hold a far smaller share of their wealth in their homes than the average Dutch household. The home, after subtracting mortgage debt, makes up around a quarter of their assets, compared with three-quarters for non-millionaires.
For the wealthiest households, significant business interests and company assets play a key role, accounting for nearly 40% of total wealth. Among the richest millionaires – those with assets over €10 million – two-thirds of their wealth comes from business ownership.
The millionaire population is also getting older. Around 40% now receive most of their income from a pension, compared with 26% of non-millionaire households. Of those who still work, 55% are self-employed, though this is down on 2014, when more than 70% of working millionaires were business owners.
Since 2011, the number of millionaire households in the Netherlands has nearly tripled – from 170,000 to more than 450,000.
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