{"id":119895,"date":"2016-04-12T19:25:22","date_gmt":"2016-04-12T17:25:22","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=119895"},"modified":"2016-04-12T17:47:01","modified_gmt":"2016-04-12T15:47:01","slug":"the-suburbs-where-south-africas-richest-people-live","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/119895\/the-suburbs-where-south-africas-richest-people-live\/","title":{"rendered":"The suburbs where South Africa’s richest people live"},"content":{"rendered":"

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

NWW\u2019s 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) \u2013 down 18% from\u00a046,800 recorded at the end of 2014.<\/p>\n

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.<\/p>\n

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%).<\/p>\n

\"Sandhurst<\/a>

A home in Sandhurst<\/p><\/div>\n

\n
\n\n\n\n\n\n\n\n
#<\/th>\nCity<\/th>\nMulti-millionaires<\/th>\n%<\/th>\n<\/tr>\n
1<\/td>\nJohannesburg<\/td>\n970<\/td>\n48%<\/td>\n<\/tr>\n
2<\/td>\nCape Town<\/td>\n360<\/td>\n18%<\/td>\n<\/tr>\n
3<\/td>\nDurban<\/td>\n120<\/td>\n6%<\/td>\n<\/tr>\n
4<\/td>\nPretoria<\/td>\n110<\/td>\n5%<\/td>\n<\/tr>\n
<\/td>\nOther<\/em><\/td>\n470<\/em><\/td>\n23%<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

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\u00a0boundaries, each.<\/p>\n

These are suburbs which South Africa’s multi-millionaires call home (primary home):<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Suburb<\/th>\nMulti-millionaires<\/th>\nCity<\/th>\n<\/tr>\n
Sandhurst<\/td>\n120<\/td>\nJHB<\/td>\n<\/tr>\n
Hyde Park<\/td>\n120<\/td>\nJHB<\/td>\n<\/tr>\n
Bryanston<\/td>\n110<\/td>\nJHB<\/td>\n<\/tr>\n
Houghton<\/td>\n60<\/td>\nJHB<\/td>\n<\/tr>\n
Camps Bay<\/td>\n60<\/td>\nCT<\/td>\n<\/tr>\n
Westcliff<\/td>\n40<\/td>\nJHB<\/td>\n<\/tr>\n
Bishopscourt<\/td>\n40<\/td>\nCT<\/td>\n<\/tr>\n
Constantia and Tokai<\/td>\n30<\/td>\nCT<\/td>\n<\/tr>\n
Clifton<\/td>\n30<\/td>\nCT<\/td>\n<\/tr>\n
Bantry Bay<\/td>\n30<\/td>\nCT<\/td>\n<\/tr>\n
Fresnaye<\/td>\n20<\/td>\nCT<\/td>\n<\/tr>\n
Llandudno<\/td>\n20<\/td>\nCT<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

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

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.<\/p>\n

\"Plettenberg<\/a>

Plettenberg Bay<\/p><\/div>\n

Other popular second-home hotspots include Umhlanga, Knysna, Stellenbosch and George.<\/p>\n

The group noted that there was keen interest in some up-coming hotspots among multi-millionaires, particularly in these areas:\u00a0Zinkwazi (KZN), Greyton (WC), Tulbacg (WC), Keurbooms (South Coast), Umdloti (KZN) and Salt Rock (KZN).<\/p>\n

Top multi-millionaire second home locations<\/strong><\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Location<\/th>\nMulti-millionaires with second homes<\/th>\n<\/tr>\n
Plettenberg Bay<\/td>\n260<\/td>\n<\/tr>\n
Umhlanga and La Lucia<\/td>\n250<\/td>\n<\/tr>\n
Knysna<\/td>\n230<\/td>\n<\/tr>\n
Stellenbosch<\/td>\n170<\/td>\n<\/tr>\n
George<\/td>\n130<\/td>\n<\/tr>\n
Ballito<\/td>\n90<\/td>\n<\/tr>\n
Paarl<\/td>\n80<\/td>\n<\/tr>\n
Franschoek<\/td>\n70<\/td>\n<\/tr>\n
Wilderness<\/td>\n60<\/td>\n<\/tr>\n
Hermanus<\/td>\n40<\/td>\n<\/tr>\n
St. Francis Bay<\/td>\n20<\/td>\n<\/tr>\n
Kenton-on-Sea<\/td>\n20<\/td>\n<\/tr>\n
Margate and Ramsgate<\/td>\n20<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

More on wealth in SA<\/h3>\n

The best city for house price growth: Durban vs Cape Town vs Joburg<\/a><\/strong><\/p>\n

Here are the 22 most exclusive streets for South Africa\u2019s ultra-rich<\/a><\/strong><\/p>\n

How South Africa\u2019s richest people make their money<\/a><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New data from New World Wealth, in association with MasterCard, has revealed which South African suburbs are home to the most super-wealthy citizens.<\/p>\n","protected":false},"author":10,"featured_media":94521,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121,9876,9880],"tags":[26,6440,7275],"class_list":["post-119895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-lifestyle","category-wealth","tag-headline","tag-new-world-wealth","tag-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/119895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=119895"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/119895\/revisions"}],"predecessor-version":[{"id":120033,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/119895\/revisions\/120033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/94521"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=119895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=119895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=119895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}