{"id":770403,"date":"2024-05-03T16:30:00","date_gmt":"2024-05-03T14:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=770403"},"modified":"2024-05-03T15:12:25","modified_gmt":"2024-05-03T13:12:25","slug":"a-look-at-the-r18-5-million-house-in-johannesburgs-old-money-suburb","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/770403\/a-look-at-the-r18-5-million-house-in-johannesburgs-old-money-suburb\/","title":{"rendered":"A look at the R18.5 million house up for sale in Joburg’s ‘old money’ suburb"},"content":{"rendered":"\n

A property in the “old money” suburb of Westcliff is on the market for R18.5 million.<\/p>\n\n\n\n

According to the latest African Wealth Report 2024 by Henley & Partners and New World Wealth, South Africa is losing millionaires who are either calling it quits or losing their dollar millionaire status in 2023.<\/p>\n\n\n\n

The report said that the country now has 37,400 high-net-worth individuals (HNWIs) \u2013 those with a liquid wealth exceeding US$1 million (roughly R19 million). This is significantly less than the 48,700 recorded at the end of 2013.<\/p>\n\n\n\n

With 12,300 HNWIS, Johannesburg is still home to the most millionaires on the continent. <\/p>\n\n\n\n

\u201cMost of Johannesburg\u2019s top-end wealth is concentrated in the suburbs surrounding Sandton City Shopping Centre, which has been dubbed \u2018the richest square mile in Africa\u2019,\u201d said the report.<\/p>\n\n\n\n

\u201cIn particular, the Sandton suburbs of Sandhurst, Hyde Park, and Inanda are all home to large numbers of HNWIs.\u201d<\/p>\n\n\n\n

That said, many millionaires are based in the “Old Money” suburb of Westcliff. <\/p>\n\n\n\n

Many millionaires are based around Sandton or in the \u201cold money\u201d suburb of Westcliff.<\/p>\n\n\n\n

The suburb was widely known to house the Randlords who ran South Africa’s diamond and gold mining industry in Southern Africa in the late 18th and early 19th century. <\/p>\n\n\n\n

Pam Golding<\/a> said that the R18.5 million property’s main bedroom comes with an en-suite bathroom, french doors, a Juliet balcony, a walk-in dressing room and carpeted floors<\/p>\n\n\n\n

The four remaining bedrooms also come with their own balconies.<\/p>\n\n\n\n

The property’s kitchen has high ceilings, a centre island, and a walk-in pantry, while the formal lounge, living room, and study all have fireplaces.<\/p>\n\n\n\n

The garden features a pool, while security features include an alarm, automatic gates, CCTV cameras, electronic beams and intercom. <\/p>\n\n\n\n

There is also a flatlet and staff accommodation – both being 1 bedroom and 1 bathroom. <\/p>\n\n\n\n

Exterior features of the property include an inverter, solar panels, computerised irrigation with a borehole, and water tanks. <\/p>\n\n\n\n

Images of the property can be found below: <\/p>\n\n\n\n

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Read<\/strong>: New homebuying trend hits South Africa\u2019s middle class as interest rates bite<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sandton may be the “richest square mile in Africa,” but many millionaires are still living in another area of Johannesburg. <\/p>\n","protected":false},"author":95,"featured_media":770419,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26],"class_list":["post-770403","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\/770403","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=770403"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/770403\/revisions"}],"predecessor-version":[{"id":770593,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/770403\/revisions\/770593"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/770419"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=770403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=770403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=770403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}