Top trends in SA prime property for 2022
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Loading... - Jess Cameron
- 01 Nov 2022
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Notably, South Africa is home to some of the world’s poshest residential areas including Clifton in Cape Town, Beachy Head Drive in Plettenberg Bay, Lagoon Drive in Umhlanga, Eastcliff in Hermanus, and Sandhurst in Johannesburg.
According to New World Wealth’s latest figures, there are approximately 3 600 homes in South Africa that are valued at over US$1 million (R18 million) as of June 2022. By this measure, South Africa ranks as the 25th largest prime residential property market in the world, well ahead of the other countries in Africa and in line with big emerging markets such as India and Brazil.
Around 40% of these homes are in the “Prime 8” suburbs of Cape Town, namely: Clifton, Bantry Bay, Fresnaye, Llandudno, Camps Bay, Bakoven, Bishopscourt, and Constantia.
Top trends in SA prime property for 2022:
Safety & Security - According to Michael Curtis from security specialists Saber Fence the search for safety is the main driver of new trends in the South African residential property space - it is linked to the rise in home security, the rise of estate living, the rise in apartment living, and the ongoing movement of affluent people to safer parts of the country.
It is also interesting to note that the average freestanding house in South Africa has a security score of only 4 out of 10. Read More…
