![\"Cape](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2014\/01\/Cape-Town-millionaire-homes-per-suburb.png\")
<\/a>Cape Town – millionaire homes per suburb<\/p><\/div>\n
<\/a>Johannesburg – millionaire homes per suburb<\/p><\/div>\n
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<\/a>Cape Town – millionaire homes per suburb<\/p><\/div>\n
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Residential prime property indices<\/strong><\/p>\n The square meter prices of selected top end international cities are listed below as a further reference. As reflected, prime property in the Cape Town is almost 10 times cheaper than in London.<\/p>\n Global prime real estate prices<\/p><\/div>\n Second homes market <\/b><\/p>\n The second-homes market in South Africa is concentrated in the Western Cape and in certain parts of the Eastern Cape and Kwazulu Natal, NWW points out.<\/p>\n For luxury second-home buyers, the garden route (between Cape Town and Plettenberg Bay) has become the top destination over the past decade.<\/p>\n These top-end buyers generally come from abroad or from Johannesburg and Cape Town. Based on NW Wealth tracking estimates the top five luxury second-home locations in South Africa are Knysna, Plettenberg Bay, Hermanus, Stellenbosch and Umhlanga, the consulting firm says.<\/p>\n Foreign buyers<\/strong><\/p>\n Notably, foreign buyers made up 4% of total local residential property buyers in 2013 compared to 7% in 2007.<\/p>\n UK citizens made up the largest foreign share of the market in 2013, although their share has fallen between 2007 and 2013.<\/p>\n The most interesting trend, NWW points out, has been the large rise in the number of buyers from the rest of Africa, which rose from 7% of foreign buyers in 2007 to 19% in 2013. This figure is expected to reach 30% by 2017.<\/p>\n Foreign Investment in Africa<\/p><\/div>\n HNWIs with homes abroad<\/b> High net-worth individuals (HNWIs)\u00a0in South Africa decreased their property holdings over the review period, from 26% of total assets in 2007 to 20% in 2013.<\/p>\n NWW research shows that 22% of South African HNWIs had second homes abroad in 2013, which is below the global HNWI average of approximately 30%.<\/p>\n This difference reflects the impact of exchange controls which make it difficult for South Africans to move money out of the country.<\/p>\n According to NW figures, over 50% of the HNWIs with homes abroad are individuals who emigrated during the 1980s and 1990s but have since returned.<\/p>\n Where the mega-rich live in SA<\/strong><\/a><\/p>\n South Africa\u2019s rich cashing in<\/strong><\/a><\/p>\n Racial spread of SA millionaires<\/a><\/strong><\/p>\n South Africa\u2019s richest people<\/strong><\/a><\/p>\n<\/a><\/a>
\n<\/strong><\/p>\nMore on New World Wealth<\/h3>\n