South Africa is no doubt one of the richest countries in the African continent and this great achievement couldn’t be possible without the help of its richest towns and lucrative suburbs.
New data from New World Wealth (NWW) presented a list of streets charge the most per square meter, in the most exclusive areas in the country.
In its recently released data, the research group revealed that there are approximately 2,300 South African homes valued at R20 million or more (as at December 2015).Out of this, about 880 are in Cape Town, while 550 are located in Johannesburg.
Camps Bay is the top richest suburb for R20 million homes in the country, with 170 properties, followed by Plettenburg Bay along the south coast, with 120 properties.
Cape Town is home to the most expensive properties in the country (per square meter), with Dock Road, near the V&A Marina, fetching the highest price at R108,000 per square meter Busnesstech reported
Other streets known as the most expensive neighborhood in the country as per their square meter (between R77,000 and R90,000) are found in Clifton
Most Expensive Roads in SA (per square meter):
- Dock Road, Cape Town (V&A Marina) – R108,000 per square meter.
- The Ridge Road & Cliff Road, Clifton, Cape Town – R90,000 per square meter.
- Nettelton Road, Clifton, Cape Town – R85,000 per square meter.
- Kloof Road, Clifton and Bantry Bay, Cape Town – R82,000 per square meter.
- Victoria Road, Clifton and Bantry Bay, Cape Town – R77,000 per square meter.
Outside of Cape Town, few roads come close in price – with streets in Plettenburg Bay, Sandton and Umhlanga a stretch away from what is charged per meter in the Mother City:
- Beachyhead Drive, Plettenberg Bay – R46,000 per square meter.
- Melrose Arch, Sandton – R35,000 per square meter.
- Lagoon Drive, Umhlanga Rocks – R31,000 per square meter.
|Neighbourhood||Province||No. of R20 million + properties|
|Umhlanga & La Lucia||KZN||100|
|Constantia & Tokai||WC||90|
|St Francis Bay||EC||10|
NWW prepared this list considering the sales statistics in each of the most exclusive areas’ transfer guides, housing associations and aggregators.
It also took into account the asking prices in each area from major real estate agency websites alongside interviews conducted with local property agents and wealth managers, to compile its list.