{"id":57849,"date":"2014-05-18T15:00:12","date_gmt":"2014-05-18T13:00:12","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=57849"},"modified":"2014-10-09T10:36:23","modified_gmt":"2014-10-09T08:36:23","slug":"most-expensive-city-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/57849\/most-expensive-city-in-south-africa\/","title":{"rendered":"SA’s most expensive city"},"content":{"rendered":"

A new report by New World Wealth ranks the most expensive cities for property around the globe, with Cape Town listed as South Africa’s most expensive city.<\/p>\n

Property on Africa’s most southern city is charged at US$6,500 per square metre.<\/p>\n

In the report, NWW lists cities from across the world by prime residential real estate prices.<\/p>\n

London was ranked as the most expensive city, globally, charging US$42,300 per square metre of prime reale estate, followed by Hong Kong (US$36,000) and New York (US$30,600).<\/p>\n

“London is the top city in the world for the wealthy with approximately 330,000 millionaires and 4,300 UHNWIs living there permanently,” NWW said.<\/p>\n

“In addition, we estimate that another 11,000 UHNWIs have second homes in the city.”<\/p>\n

UHNWIs – Ultra high net worth individuals – refer to individuals with net assets of US$30 million or more excluding their primary residences.<\/p>\n

Top 10 most expensive cities<\/h3>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
City<\/strong><\/td>\nUS$ per square meter<\/strong><\/td>\n<\/tr>\n
London<\/td>\n42,300<\/td>\n<\/tr>\n
Hong Kong<\/td>\n36,000<\/td>\n<\/tr>\n
New York<\/td>\n30,600<\/td>\n<\/tr>\n
Geneva<\/td>\n29,000<\/td>\n<\/tr>\n
Singapore<\/td>\n26,600<\/td>\n<\/tr>\n
Paris<\/td>\n24,600<\/td>\n<\/tr>\n
Zurich<\/td>\n23,600<\/td>\n<\/tr>\n
Tokyo<\/td>\n22,900<\/td>\n<\/tr>\n
Sydney<\/td>\n22,100<\/td>\n<\/tr>\n
Rome<\/td>\n16,500<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

When it comes to second homes or holiday hotspots, NWW found that UHNWIs were willing to pay as much as US$50,400 per square metre in Monaco.<\/p>\n

“The Hamptons, Palm Beach and Monaco come out on top when ranked by the number of UHNWIs with holiday homes in each of these areas,” NWW said.<\/p>\n

“During peak holiday season, the Hamptons is home to over 5,000 UHNWIs, Monaco 2,800 UHNWIs and Palm Beach 1,300 UHNWIs.”<\/p>\n

In Sub-Saharan Africa, the costliest cities for property were dominated by South African cities, lead by Cape Town, Johannesburg, Durban\/Umhlanga.<\/p>\n

Most expensive Sub-Saharan African cities<\/h3>\n
\n\n\n\n\n\n\n\n\n\n
City<\/strong><\/td>\nUS$ per square meter<\/strong><\/td>\n<\/tr>\n
Cape Town<\/td>\n6,500<\/td>\n<\/tr>\n
Johannesburg<\/td>\n2,400<\/td>\n<\/tr>\n
Luanda<\/td>\n2,200<\/td>\n<\/tr>\n
Durban\/Umhlanga<\/td>\n2,100<\/td>\n<\/tr>\n
Nairobi<\/td>\n1,600<\/td>\n<\/tr>\n
Lagos<\/td>\n1,200<\/td>\n<\/tr>\n
Accra<\/td>\n1,100<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

More on property<\/h3>\n

SEEK takes 25% stake in SA online property site<\/a><\/strong><\/p>\n

Online data important for SA property market<\/a><\/strong><\/p>\n

Luxury assets on the rise in SA<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report by New World Wealth ranks the most expensive cities for property around the globe, including which South African city takes the crown.<\/p>\n","protected":false},"author":10,"featured_media":40438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,6440,4038],"class_list":["post-57849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline","tag-new-world-wealth","tag-property"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/57849","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=57849"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/57849\/revisions"}],"predecessor-version":[{"id":70621,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/57849\/revisions\/70621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/40438"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=57849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=57849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=57849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}