As part of the South Africa 2016 Wealth Report, New World Wealth ranked the most exclusive suburbs in SA, based on the number of homes priced at R20m and above in each area
There are about 2,300 South African homes valued at R20m or more (as of December 2015). Of these, 880 are in Cape Town and 550 are located in Johannesburg.
Camps Bay is the top suburb for R20m homes in SA. Says Lisa Bathurst, director at property services agency Hurst & Wills in Cape Town: “Camps Bay has fared incredibly well in recent financial downturns, where prices continue to increase, regardless of SA’s economic woes. The latest figures show that Camps Bay prices have gone up by 50% in five years and there is no sign of a slowdown.”
In Johannesburg, Sandhurst came tops. Outside of Cape Town and Joburg, the 10 most exclusive suburbs are:
1. Plettenberg Bay
2. Umhlanga & La Lucia
Sources: sales statistics in each area from transfer guides, housing associations and aggregators. Asking prices in each area from major real estate agency websites, interviews with local property agents and wealth managers
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