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BUSINESS INSIGHTS: SA’s luxury property sector untouched

  • 📰 TheSAnews
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High-net-worth investors remain relatively immune to the financial pressures facing the majority of the population and as a result, the buoyant luxury property market continues to generate high demand.

, but seemingly not the lucky 1% – with properties in the R10 to R100 million price bracket in high demand.

Ranked in the top five of Knight Frank’s Prime International Residential Index among the likes of Dubai and Manila, Cape Town attracts both local and international buyers because of its unmatched value for money lifestyle . Surprisingly though, it is still Johannesburg, and not Cape Town, that is home to the highest number of millionaires on the African continent. These HNWIs primarily reside in Johannesburg’s Northern Suburbs, with the neighbourhoods of Sandhurst, Hyde Park, Inanda and Westcliff in particularly high demand.

Regardless of the climate, the luxury property market in South Africa continues to thrive, offering opportunities for both foreign investors and local millionaires to capitalise on this lucrative sector.

 

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