Nearly half of Mzansi's richest choose to live in lux estates: Report

Nearly half of Mzansi's richest choose to live in lux estates: Report

- A new report has revealed that nearly half of South Africa's elite have opted to live in gated estates

- The trend has seen the rich forking up to R75 million for their home in the secure communities

- South Africa is currently second only to America when it comes to the sheer amount of these estates

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South Africa's new obsession with gated estates has seen a record number of these properties popping up.

A new report by New World Wealth revealed that over 40% of Mzansi's richest live in one of the thousands of luxury gated security estates.

The craze has seen folks coughing up as much as R75 million for a home in some of the top estates, report News24.

Briefly.co.za gathered that the coveted Val de Vie lifestyle estate, nestled in the Cape Winelands, is currently the top residential estate in SA.

Nearly half of Mzansi's richest choose to live in lux estates: Report

Val de Vie Lifestyle Estate in the Cape Winelands
Source: Facebook

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A home amongst the mountains, vineyards, fynbos, lakes and polo fields could set you back up to R50 million.

The trend has seen an evolution away from the more traditional settings of focusing on a golf course. Activities, amenities and natural beauty are factoring in more than it ever has before as residents lean towards convenience and innovation.

Head researcher for the report Andrew Amoils revealed that Mzansi has become a global pioneer when it comes to these high-end estates:

“The only country with more estate development than South Africa is the US, and most of that is located in Florida.”

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Source: Briefly.co.za

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