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Riches Swiss household wealth rises

Switzerland has the highest density of millionaires in the world

(Keystone)

The net worth of Swiss households in 2014 rose significantly by CHF141 billion ($138 billion) or 4.4% to CHF3.3 trillion, the Swiss National Bank (SNB) said on Friday. 

The main reasons for the increase were higher share and real estate prices, the SNB said. 

Breaking down the figures, the SNB said financial assets held by households grew last year by CHF94 billion (4.2%) to CHF2.3 trillion, while real estate assets increased by CHF75 billion (4.3%) to CHF1.8 trillion. 

Consequently, total assets recorded a growth of CHF168 billion (4.2%) to CHF4.1 trillion. 

After taking liabilities into account (CHF794 billion), the central bank said net worth per capita increased by 3.2% to CHF405,000. 

A report released in June by the management consulting firm Boston Consulting Group said Switzerland has the highest density of millionaires with 135 of a 1000 households boasting of private wealth over $1million in 2014. 

The alpine nation also has the fourth highest density of ultra-high-net-worth (UNHW) households with 90 out of every 100,000 households worth over $100 million. Only Hong Kong (153 per 100,000 households), Singapore (143) and Austria (120) had a higher concentration of UNHW households. 

swissinfo.ch

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