Where to find the most expensive homes in South Africa

Cape Town is the most ‘luxurious’ city in South Africa, with the city host to 813 luxury homes valued at R20 million or more as of October 2014.

A new report from New World Wealth lists the Mother City above South Africa’s biggest and most populous city, Johannesburg, which has 550 of these properties.

According to New World Wealth, South Africa has a total of 2,230 houses valued at over R20 million, up from 2,100 in 2013.

Top luxury home cities

City No. of luxury homes
Cape Town 813
Johannesburg 550
Knysna and Plettenberg Bay 205
Durban 185
Stellenbosch and Franschoek 151
Pretoria 112
George, Fancourt and Wilderness 95
Other 120
Total 2,231

In line with the city break-down, the top suburb for luxury homes in the country is located in Cape Town.

The research finds that Camps Bay is the most luxurious suburb in South Africa, with 162 homes valued over R20 million, followed by Sandhurst (127 homes) and Hyde Park (116 homes) in Johannesburg.

Top suburbs for luxury homes: Cape Town and Joburg

Suburb City No. of luxury homes
Camps Bay Cape Town 162
Sandhurst Johannesburg 127
Hyde Park Johannesburg 116
Clifton Cape Town 105
Bryanston Johannesburg 92
Bishopscourt Cape Town 87
Constantia and Tokai Cape Town 81
Bantry Bay Cape Town 78
Fresnaye Cape Town 69
Houghton Johannesburg 58
Llandudno Cape Town 43

A relatively large number of R20 million homes are bought by foreigners, especially those in Camps Bay, Clifton, Bantry Bay, Llandudno and Fresnaye, New World Wealth noted.

“It is also interesting to note that a large percentage (over 25%) of R20 million homes are located on secure estates, either golf estates or lifestyle estates,” said New World Wealth analyst, Andrew Amoils.

While Cape Town is home to the most luxury properties in South Africa, data from New World Wealth shows that Johannesburg still has the most dollar millionaires.

Joburg hosts 23,400 high net-worth individuals (HNWIs), compared to Cape Town’s 9,000.

Durban is home to 2,700 HWNIs, and Pretoria is home to 2,500.

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Where to find the most expensive homes in South Africa