Wealth Concentration in Spain Surges with Cataluña and Madrid Leading the Way in 2025
Spain experiences an 83.65% rise in ultra-wealthy individuals over €30 million by 2025, with Cataluña and Madrid as key wealth hubs.
- • 228,575 individuals declared wealth tax in Spain in 2023 with assets above €700,000.
- • Cataluña accounts for 42% of wealth tax declarants; Madrid and Comunidad Valenciana follow.
- • Number of individuals with fortunes above €30 million increased by 83.65% since 2013.
- • Madrid holds 33% of the top 1% wealthiest taxpayers and 42.6% of top 0.1%.
- • Financial assets constitute 75.9% of declared wealth, real estate 18.52%.
Key details
In 2025, wealth concentration in Spain continues to rise sharply, with 228,575 individuals subject to Spain's wealth tax due to assets exceeding €700,000 as of 2023, according to Agencia Tributaria data. Cataluña accounts for the largest share, with 42% of wealth tax declarants, followed by Comunidad Valenciana at 13.3% and Madrid at 11.4%, together controlling roughly two-thirds of the nation's substantial fortunes. Per capita, Cataluña leads with 1,149 declarants per 100,000 inhabitants, followed by La Rioja, Baleares, and Aragón. The ultra-wealthy segment has grown considerably: the number of individuals holding fortunes above €30 million has surged by 83.65% over the last decade, from 471 to 865 people. Additionally, 80,532 individuals possess assets over €1.5 million, and 10,130 exceed €6 million. Madrid notably houses 33% of the top 1% wealthiest taxpayers and 42.6% of the top 0.1% ultra-rich, emphasizing its concentration of extreme wealth.
Financial assets dominate wealth composition, constituting 75.9% of declared wealth, with real estate making up 18.52%. Despite 228,575 declarations, only about 192,041 individuals actually pay the wealth tax, benefiting from exemptions and deductions. Fernando Rodríguez Sauco of Universidad de Zaragoza highlights these regional disparities and the growing concentration among the top echelon of wealth holders in his recent study published in Hacienda Pública Española.
This significant rise in wealth concentration amid regional inequalities underscores ongoing economic and social challenges surrounding taxation and wealth distribution in Spain.
This article was synthesized and translated from native language sources to provide English-speaking readers with local perspectives.