These are SA’s new luxury property hotspots
Despite a declining rand since 2007 there is still plenty of demand among SA’s dollar millionaires for plush abodes valued at R20m or more
The usual suspects such as Clifton, Camps Bay, Bishopscourt, Sandhurst, Hyde Park and Houghton may well still rank as SA’s most desirable residential addresses. However, if you want to share in the potential spoils of what could become SA’s future luxury property hotspots, now may be a good time to stake your claim in Zinkwazi, St Francis Bay or Noordhoek. The AfrAsia Bank SA Wealth Report, which was published last week by Johannesburg-based market research group New World Wealth, singles out five up-and-coming investment destinations that are becoming increasingly popular among SA’s dollar millionaires, who typically spend R20m or more on a trophy home. SA is home to 43,600 high-net-worth individuals, each with net assets of at least US$1m; 2,200 multimillionaires, each with net assets of at least $10m; and five billionaires, each with net assets of at least $1bn. The report, which takes a detailed look at investment and wealth management trends in SA since 2007, notes that the onc...
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