New data points to 11 streets on South Africa’s property map more likely to be populated by high net worth individuals due to their price per square metre.<\/p>\n
New World Wealth calculated the average price of a 200 square-metre apartment on each street and refer to figures for December 2016.<\/p>\n
The wealth analysts found that The Ridge & Cliff Road in Clifton, Cape Town, marginally beat out Dock Road on the V&A Marina.<\/p>\n
While the property value in the Clifton area, which features predominantly on the list, is well documented, the recent growth in value within the V&A Marina is far more eye watering.<\/p>\n
According to Seeff Property Group, property values have almost doubled in the five years since 2011.<\/p>\n
Seeff noted in a report in October that the V&A Marina yielded sales worth R2.030 billion at an average price of R10.464 million.<\/p>\n
The entry level price for the Waterfront is now between R7 million and R9 million and on a rate per square metre, apartments now sell for around R84,020\/sqm on average, ranging to R140,000\/sqm at the top end, Seeff said.<\/p>\n
Roads located in Cape Town account for the top eight properties on NWW’s list, followed by a single street in Plettenberg Bay, one in Joburg, and one in Umhlanga Rocks, in the eThekwini Metropolitan Municipality.<\/p>\n
11 streets in South Africa for the rich:
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