That three-bedroom Clifton apartment up top is just one of many R100 million properties that are being particularly drooled over right now. I know, it feels like dire times, and yet the luxury property market is absolutely booming. The cost of living crisis is as pertinent as ever, and yet there are folks with deep pockets making investments in R10 million-R100 million properties across the country.
In the northern suburbs of Johannesburg, an influx of wealthy investors from other African countries are driving the market as they "perceive this area to be a financial safe haven". Andrew Golding, CEO of Pam Golding Property, refers to a recent sale of a home in Waterkloof for R19,5 million: In Johannesburg a Sandhurst home was sold for R50m — the registration of which was concluded in February — while a Hyde Park home was snapped up for R25m in June last year.