House in Son Vida, Palma

There are 7,000 people in the Balearics with assets in excess on one million euros.


Between 2012 and 2017, the total value of asset declarations by taxpayers in the Balearics who are worth more than one million euros increased by almost 6,000 million euros.

The last available figures from the Tax Agency are for 2017. These were published earlier this week and show that 7,721 taxpayers declared assets with a total value of 22,777 million euros.

Almost two-thirds of this corresponded to shares, bonds and bank deposits. This, in percentage terms, was roughly similar to the situation in 2012, when the value was around 3,500 million euros lower.

Property assets totalled 6,320 million euros, some 2,000 million more than in 2012.

Other assets included luxury goods, for which there was a particular rise in value between 2012 and 2017 for the likes of boats and aircraft.

The actual number of taxpayers in this bracket increased by more than one thousand over the 2012-2017 period. A percentage increase of 20% was lower than that for the value of assets, which rose 35% (5,971 million euros to be precise).


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