top richest towms and surbub in South Africa

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.

Also See: SARS Spent Over R23m On ‘Rogue Unit’ Probe By KPMG

 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
Camps Bay WC 170
Plettenburg bay WC 120
Clifton WC 110
Sandhurst GP 110
Umhlanga & La Lucia KZN 100
Bryanston GP 100
Constantia & Tokai WC 90
Hyde Park GP 90
Knysna WC 90
 Bishopscourt  WC  80
 Fresnaye  WC  80
 Houghton  GP  80
 Stellenbosch  WC  70
 Bantry Bay  WC  70
 Paarl  WC  60
Franschoek WC 60
Westcliff GP 60
George WC 50
Ballito KZN 50
Llandudno WC 40
Wilderness WC 20
Hermanus WC 20
St Francis Bay EC 10
Kenton-on-Sea EC 10

Also See: Never-ending Scandals In ANC Weakens Its Capacity To Lead – Cosatu

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.