The suburbs where South Africa’s richest people live

 ·12 Apr 2016

New data from New World Wealth, in association with MasterCard, has revealed which South African suburbs are home to the most super-wealthy citizens.

NWW’s data shows that at the end of 2015, there were 38,500 millionaires in South Africa (people with a net worth over US$1 million) – down 18% from 46,800 recorded at the end of 2014.

Of these High Net Worth Individuals (HNWIs), 2,030 are multi-millionaires (with a net worth of US$10 million or more), who are largely settled around the country’s economic hub – Johannesburg.

According to NWW, Joburg is home to 970 multi-millionaires – almost half (47%) of the multi-millionaire population. This is followed by Cape Town, with 360 multi-millionaires (18%) and Durban, with 120 (6%).

Sandhurst home 00

A home in Sandhurst

# City Multi-millionaires %
1 Johannesburg 970 48%
2 Cape Town 360 18%
3 Durban 120 6%
4 Pretoria 110 5%
Other 470 23%

As the richest city in South Africa, Joburg is home to four of the five richest suburbs in the country, led by Sandhurst and Hyde Park, which have approximately 120 multi-millionaires living within their boundaries, each.

These are suburbs which South Africa’s multi-millionaires call home (primary home):

Suburb Multi-millionaires City
Sandhurst 120 JHB
Hyde Park 120 JHB
Bryanston 110 JHB
Houghton 60 JHB
Camps Bay 60 CT
Westcliff 40 JHB
Bishopscourt 40 CT
Constantia and Tokai 30 CT
Clifton 30 CT
Bantry Bay 30 CT
Fresnaye 20 CT
Llandudno 20 CT

According to NWW, looking outside of Johannesburg and Cape Town, there are a number of hot-spots for second homes owned by multi-millionaires.

Top among these areas is Plettenburg Bay, which has 260 second homes owned by these individuals, 120 of which are homes that are worth more than R20 million – the highest number of homes valued at this price outside of Cape Town and Johannesburg.

Plettenberg Bay

Plettenberg Bay

Other popular second-home hotspots include Umhlanga, Knysna, Stellenbosch and George.

The group noted that there was keen interest in some up-coming hotspots among multi-millionaires, particularly in these areas: Zinkwazi (KZN), Greyton (WC), Tulbacg (WC), Keurbooms (South Coast), Umdloti (KZN) and Salt Rock (KZN).

Top multi-millionaire second home locations

Location Multi-millionaires with second homes
Plettenberg Bay 260
Umhlanga and La Lucia 250
Knysna 230
Stellenbosch 170
George 130
Ballito 90
Paarl 80
Franschoek 70
Wilderness 60
Hermanus 40
St. Francis Bay 20
Kenton-on-Sea 20
Margate and Ramsgate 20

More on wealth in SA

The best city for house price growth: Durban vs Cape Town vs Joburg

Here are the 22 most exclusive streets for South Africa’s ultra-rich

How South Africa’s richest people make their money

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