CBS: Decline in wealth inequality stalls after seven years

In 2023, the ten percent of the most wealthy households in the Netherlands still owned 56 percent of the total wealth in the Netherlands. That reports the Central Bureau of Statistics (CBS) on Wednesday morning. Of the total 2.6 trillion (2,600 billion) euros in assets in the Netherlands, 1.5 trillion euros was in the hands of the richest 10 percent.

That distribution is the same as in 2022, meaning that a downward trend in wealth inequality has come to a standstill for the first time in seven years. In 2015, the richest ten percent still owned 70 percent of the total wealth.

The fact that the bottom 90 percent received a larger share of the total wealth was mainly because homes became more valuable. The prices of cheaper homes are rising relatively faster than those of more expensive homes, reducing inequality.

Their own home is still the most important asset for most Dutch people. Nearly six in ten households owned a home in 2023. Richer households also often had a share portfolio. For the richest 1 percent, shares made up an average of 54 percent of the wealth.

Meanwhile, the poorest group consists mainly of employees (69 percent). Their wealth is even negative, because their debts are greater than their assets. In total, the poorest ten percent have negative assets of 38 billion euros.

But which households are in the best position after adding up real estate, cash and savings, among other things? In 2023, the richest ten percent consisted mainly of retirees (40 percent), followed by employees (33 percent) and finally the self-employed (27 percent). Dutch people who want to count themselves among this group of wealthy people must now have at least 680,000 euros in assets by 2023.

However, as a “member” of the bottom 90 percent you have little chance of joining the community of the very rich. Last August, the Central Planning Bureau concluded after research that the Dutch who are the most wealthy often remain that way. Two-thirds of the households that belonged to the 10 percent richest Dutch people more than fifteen years ago were still part of that group in 2022.

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