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It’s a new year, which means South Africa has slightly different numbers compared to last year’s New World Wealth’s Africa Wealth report.
The report considers which countries and cities on the continent are home to the most high net worth individuals (HNWIs) – anyone with a wealth of $1 million (around R16 million) or more.
It also zones into the most affluent streets and suburbs in each city.
Even though Johannesburg remains home to most of South Africa’s HNWIs, Cape Town has the most expensive and exclusive suburbs.
Because Cape Town offers such high standards of living, the city attracts more foreign buyers than the rest of the country.
But Johannesburg is keeping it real as the wealthiest city in Africa in the 2022 report, with total private wealth amounting to $239 billion, reported BusinessTech.
That’s a nice $4 billion jump from last year.
Zooming into the wealthiest areas and street sales, the New World Wealth data shows that the country’s top five most affluent suburbs are concentrated in Cape Town.
These are:
Outside of the Mother City, the wealthiest suburbs are:
[source:businesstech]
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