Research group New World Wealth has published its South African wealth report for 2020, highlighting where some of the country’s richest people choose to live.<\/p>\n
As part of the group\u2019s research, it looks at the price of property per square metre in prime property areas across the country.<\/p>\n
The group found that South\u00a0Africa\u2019s residential property market has performed poorly over the review period (2009 to 2019) with average prices declining by around 36% in US dollar terms.<\/p>\n
However, it noted that the rand depreciated significantly during this period, which obviously contributed to the decline.<\/p>\n
Other possible reasons for the drop include:<\/p>\n
“Notably, luxury apartments have been the best performing residential segment in SA over the past decade as many buyers have moved away from houses,” New World Wealth said.<\/p>\n
Below the group outlined the most expensive streets and suburbs in South Africa.<\/p>\n
Note: Figures for December 2019. Translated at R14.00\/US$.<\/em><\/p>\n The most expensive streets in South Africa<\/strong><\/p>\n The most expensive suburbs in South Africa<\/strong><\/p>\n\n\n
\n Street<\/th>\n Suburb, City<\/th>\n US$ per square meter<\/th>\n ZAR per sqm<\/th>\n<\/tr>\n \n Victoria Road<\/td>\n Clifton and Bantry Bay, Cape Town<\/td>\n $5 700<\/td>\n R80 000<\/td>\n<\/tr>\n \n The Ridge & Cliff Road,<\/td>\n Clifton, Cape Town<\/td>\n $5 600<\/td>\n R78 000<\/td>\n<\/tr>\n \n Nettelton Road<\/td>\n Clifton, Cape Town<\/td>\n $5 400<\/td>\n R76 000<\/td>\n<\/tr>\n \n Clifton Road<\/td>\n Clifton, Cape Town<\/td>\n $5 400<\/td>\n R75 000<\/td>\n<\/tr>\n \n V&A Marina<\/td>\n City Bowl, Cape Town<\/td>\n $5 100<\/td>\n R72 000<\/td>\n<\/tr>\n \n Lagoon Drive<\/td>\n Umhlanga<\/td>\n $2 900<\/td>\n R40 000<\/td>\n<\/tr>\n \n Beachyhead Drive<\/td>\n Plettenberg Bay<\/td>\n $2 600<\/td>\n R37 000<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n \n\n
\n Suburb<\/th>\n Province<\/th>\n US$ per square meter<\/th>\n ZAR per sqm<\/th>\n<\/tr>\n \n Clifton<\/td>\n Western Cape<\/td>\n $5 100<\/td>\n R72 000<\/td>\n<\/tr>\n \n Bantry Bay<\/td>\n Western Cape<\/td>\n $4 800<\/td>\n R67 000<\/td>\n<\/tr>\n \n Fresnaye<\/td>\n Western Cape<\/td>\n $3 900<\/td>\n R54 000<\/td>\n<\/tr>\n \n Camps Bay & Bakoven<\/td>\n Western Cape<\/td>\n $3 500<\/td>\n R49 000<\/td>\n<\/tr>\n \n Llandudno<\/td>\n Western Cape<\/td>\n $3 300<\/td>\n R46 000<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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