SA’s wealthy snap up micro-mansions
SA’s high-end housing market has been hit by a moribund economy, weak returns and political uncertainty. But as the wealthy scale down, some areas are bucking the trend
The propensity among SA’s super-rich to splurge on big-ticket trophy homes seems to have been severely dampened by the stagnant economy, weak price growth and political uncertainty.
Estate agents in the luxury end of the housing market say negative sentiment has caused a marked slump in sales in the R10m-plus bracket.