{"id":675849,"date":"2023-04-02T11:00:29","date_gmt":"2023-04-02T09:00:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=675849"},"modified":"2023-03-31T16:53:27","modified_gmt":"2023-03-31T14:53:27","slug":"new-property-trend-emerging-amongst-wealthy-south-africans","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/675849\/new-property-trend-emerging-amongst-wealthy-south-africans\/","title":{"rendered":"This property trend is heating up among rich South Africans"},"content":{"rendered":"<p>South Africa is seeing an increase in apartment living for the uber-wealthy, with areas in the Western Cape seeing significant growth.<\/p>\n<p>According to the African Wealth Report for 2023, luxury apartments have been the best-performing residential segment in South Africa regarding price growth as many buyers move away from their houses.<\/p>\n<p>The report, compiled by Henley &amp; Partners and New World Wealth, stated that Hermanus, Plettenberg Bay, and Umhlanga apartments had done well over the last decade.<\/p>\n<p>The report listed three possible reasons for the growth of apartment living:<\/p>\n<ul>\n<li>Running costs &#8211; including municipal rates &#8211; are usually lower than in apartments compared to houses.<\/li>\n<li>Safety &#8211;\u00a0 apartments offer improved safety and security. Apartments usually only have one access point, making them safer. Apartment buildings also often have security guards at the entrance.<\/li>\n<li>Maintenance &#8211;\u00a0apartments are usually smaller, making them easier to maintain than houses.<\/li>\n<\/ul>\n<p>Some of the top apartment complexes in South Africa include:<\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/www.property24.com\/for-sale\/umhlanga-central\/umhlanga\/kwazulu-natal\/6381\/111002068\" target=\"_blank\" rel=\"noopener\">The Oysters<\/a> &#8211; Umhlanga<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-oysters.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675987 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-oysters.jpg\" alt=\"\" width=\"640\" height=\"430\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-oysters.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-oysters-300x202.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/www.pamgolding.co.za\/property-details\/3-bedroom-apartment-for-sale-waterfront-cape-town\/as1598084\" target=\"_blank\" rel=\"noopener\">V&amp;A Marina Apartments<\/a> &#8211; Waterfront, Cape Town<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/VA-Marina-Apartments-pam-gold.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675985 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/VA-Marina-Apartments-pam-gold.jpg\" alt=\"\" width=\"640\" height=\"430\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/VA-Marina-Apartments-pam-gold.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/VA-Marina-Apartments-pam-gold-300x202.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/www.pamgolding.co.za\/property-details\/4-bedroom-apartment-for-sale-clifton\/as1501781\" target=\"_blank\" rel=\"noopener\">Eventide<\/a> &#8211; Clifton, Cape Town<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Eventide.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675973 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Eventide.jpg\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Eventide.jpg 1200w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Eventide-300x200.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Eventide-1024x683.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Eventide-768x512.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/www.seeff.com\/results\/residential\/for-sale\/cape-town\/clifton\/apartment\/184495\/106-san-michele-52-victoria-road\/\" target=\"_blank\" rel=\"noopener\">San Michele<\/a> &#8211; Clifton, Cape Town<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/San-Michele.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675975 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/San-Michele.jpg\" alt=\"\" width=\"640\" height=\"430\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/San-Michele.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/San-Michele-300x202.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/www.pamgolding.co.za\/property-details\/2-bedroom-apartment-for-sale-melrose-arch\/hp1565244\" target=\"_blank\" rel=\"noopener\">Melrose Arch<\/a> &#8211; Sandton, Johanneburg<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/melrose-arch.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675977 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/melrose-arch.jpg\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/melrose-arch.jpg 1200w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/melrose-arch-300x200.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/melrose-arch-1024x683.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/melrose-arch-768x512.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li>The Houghton &#8211; Houghton, Johannesburg<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/07\/The-Houghton.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-256801 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/07\/The-Houghton.jpg\" alt=\"\" width=\"1000\" height=\"800\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/07\/The-Houghton.jpg 1000w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/07\/The-Houghton-300x240.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/07\/The-Houghton-768x614.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li>The Bantry &#8211; Bantry Bay, Cape Town<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/11\/The-Bantry.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-209433 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/11\/The-Bantry.png\" alt=\"\" width=\"595\" height=\"404\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/11\/The-Bantry.png 595w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/11\/The-Bantry-300x204.png 300w\" sizes=\"auto, (max-width: 595px) 100vw, 595px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/atlanticseaboard.seeff.com\/results\/residential\/for-sale\/cape-town\/mouille-point\/apartment\/4416\/4-elstree-1947-the-water-club\/\" target=\"_blank\" rel=\"noopener\">The Water Club<\/a> &#8211; Mouille Point Cape Town<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/water-club-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675983 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/water-club-1.jpg\" alt=\"\" width=\"640\" height=\"430\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/water-club-1.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/water-club-1-300x202.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li>The Hermanus &#8211; Eastcliff, Hermanus<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-hermanus.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-676019 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-hermanus.jpg\" alt=\"\" width=\"640\" height=\"430\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-hermanus.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/the-hermanus-300x202.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<hr \/>\n<ul>\n<li><a href=\"https:\/\/plettenbergbay.seeff.com\/results\/residential\/for-sale\/plettenberg-bay\/lookout-beach\/apartment\/1995\/\" target=\"_blank\" rel=\"noopener\">De Meermin<\/a> &#8211; Plettenberg Bay<\/li>\n<\/ul>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/de-meermin.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-675989 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/de-meermin.jpg\" alt=\"\" width=\"640\" height=\"430\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/de-meermin.jpg 640w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/de-meermin-300x202.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p>Five of the top apartment complexes for the wealthy are found within Cape Town, which aligns with the fact that most of South Africa&#8217;s prime suburbs are in Western Cape City.<\/p>\n<p>The report said that over 40% of South Africa&#8217;s homes valued at over $1 million are found within Cape Town&#8217;s prime seven suburbs &#8211; Bantry Bay, Bishopscourt, Camps Bay, Clifton, Constantia, Fresnaye and Llandudno.<\/p>\n<p>However, square meter prices in certain parts of Hermanus and Plettenberg Bay are catching up with Cape Town.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-675955\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Most-expensive-suburbs.png\" alt=\"\" width=\"827\" height=\"777\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Most-expensive-suburbs.png 827w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Most-expensive-suburbs-300x282.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/03\/Most-expensive-suburbs-768x722.png 768w\" sizes=\"auto, (max-width: 827px) 100vw, 827px\" \/><\/p>\n<p>After Johannesburg and Cape Town, Plettenberg Bay is the top location for ultra-luxury homes in South Africa, with roughly 350 homes in the area costing over $1 million by December 2022.<\/p>\n<p>The report said the area had seen a massive growth in permanent residents over the last few years.<\/p>\n<p>Keurboomstrand, located close to Plettenberg Bay, is expected to see large-scale growth in the next decade.<\/p>\n<p>Nature&#8217;s Valley &#8211; also on the Garden Route &#8211; is also popular with the uber-wealthy, with its lagoon and forest relatively untouched.<\/p>\n<p>Hermanus is also seeing a rise in high-net-worth individuals and is an incredibly popular retirement destination.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/property\/674831\/luxury-south-african-estates-plan-to-build-forest-pod-homes\/\" rel=\"bookmark\">This luxury eco-estate in South Africa wants to build &#8216;forest pod&#8217; homes<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wealthy South Africans are adopting a new style of living.<\/p>\n","protected":false},"author":95,"featured_media":675889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26],"class_list":["post-675849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/675849","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\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=675849"}],"version-history":[{"count":15,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/675849\/revisions"}],"predecessor-version":[{"id":677247,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/675849\/revisions\/677247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/675889"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=675849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=675849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=675849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}