New World Wealth has published its annual wealthy cities review, revealing which countries and cities in the world are home to the highest net worth individuals \u2013 including South Africa.<\/p>\n
The report focuses on high net worth individuals (HNWIs) with a wealth of $1 million (R14.52 million) or more. Total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets\u00a0 – including property, cash, equities, business interests – less liabilities.<\/p>\n
Johannesburg was found to be the wealthiest city in Africa, with total wealth in the city now amounting to $235 billion. Major sectors in the city include financial services, such as banks, and professional services such as law firms, and consultancies.<\/p>\n
However, most of this HNWI wealth is concentrated in just a few select suburbs, including:<\/p>\n
Cape Town was named the second richest city in Africa with a total wealth of $130 billion. New World Wealth said that most of this wealth is concentrated in the following suburbs:<\/p>\n
Cape Town is also home to a number of top-end lifestyle estates including Steenberg, Atlantic Beach and Silverhurst Estate. Major sectors in the city include real estate and fund management, the group said.<\/p>\n
Most expensive suburbs\u00a0<\/strong><\/p>\n When looking at property sales, data published by real estate agency Seeff Property Group in July<\/a> <\/strong>shows that almost all of the country’s most expensive sunburns are in the Western Cape.<\/p>\n The list \u2013 which was compiled from deeds office and sales data \u2013 includes eight Cape Town suburbs; six on the Atlantic Seaboard and two in the Southern Suburbs.<\/p>\n By comparison, just two suburbs outside of the Western Cape feature \u2013 one in Sandton and one in Johannesburg.<\/p>\n Ten years ago, there were just four top suburbs with an average selling price of just over R10 million. The group said that all ten of South Africa\u2019s top suburbs now fall above this, with average prices ranging from R12 million to over R20 million.<\/p>\n\n\n
\n Suburb<\/th>\n Average price<\/th>\n % increase over the last 10 years<\/th>\n<\/tr>\n \n Clifton<\/td>\n R23 million<\/td>\n +77%<\/td>\n<\/tr>\n \n Llandudno<\/td>\n R22 million<\/td>\n +267%<\/td>\n<\/tr>\n \n Bantry Bay<\/td>\n R15 million<\/td>\n +114%<\/td>\n<\/tr>\n \n Sandhurst<\/td>\n R15 million<\/td>\n +25%<\/td>\n<\/tr>\n \n Camps Bay<\/td>\n R14 million<\/td>\n +133%<\/td>\n<\/tr>\n \n Constantia Upper<\/td>\n R14 million<\/td>\n +100%<\/td>\n<\/tr>\n \n Bishopscourt<\/td>\n R14 million<\/td>\n +8%<\/td>\n<\/tr>\n \n Fresnaye<\/td>\n R13 million<\/td>\n +86%<\/td>\n<\/tr>\n \n Hyde Park<\/td>\n R13 million<\/td>\n +117%<\/td>\n<\/tr>\n \n Waterfront<\/td>\n R12 million<\/td>\n +71%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n