South Africa is a country that has a lot of minerals, diverse cultures, and wealth. It is one of the wealthiest nations on the continent and houses many rich citizens. The wealthiest suburbs in South Africa have expensive homes and property that only a few can afford.
These pricey suburbs will cost an arm and a leg to own. Most are located near the seafront and near big malls like the Makro Stores franchise and are worth millions of dollars to purchase. In this article, we shall look at the most exclusive and wealthiest areas you can live in South Africa and the cost of living there.
The most expensive streets and wealthiest suburbs in South Africa
Here is a list of the wealthiest suburbs in South Africa. It is an updated list with 2020 prices that was compiled by New World Wealth. The most expensive locations in the country are based on house prices and property valuations. However, housing rates have gone down because of the Covid-19 crisis and a housing industry that is performing poorly at the moment.
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This is a prestigious area located near the beach and is also a top place to visit. It offers fantastic seafront views and incredible house designs that are very attractive to home buyers. A square meter of property in this area will cost you R72,000. Clifton is known as the most expensive suburb in South Africa due to its location and amenities.
2. Bantry Bay
Bantry Bay offers fantastic holiday homes and accommodation for holiday lovers. It is located in Cape Town, one of the most beautiful cities in Africa where the richest people in Mzansi live. It has beautiful beaches that will grant you an unforgettable stay. A square meter of property here will cost you R67,000.
3. Camps Bay
Camps Bay in South Africa is a popular area known for its stunning beaches. It also happens to have the best beaches to visit in South Africa. This is the most Instagrammed beach location owing to its beautiful nature. Here, you will have to pay R49,000 per square metre of property. Camps Bay is one of the expensive suburbs in South Africa.
This one is near the seafront between Sea Point and Bantry Bay. It is a fashionable spot loved by celebrities and beach lovers. It offers one of the finest home accommodation in South Africa. A square meter of property here will cost you R54,000.
5. Victoria Road, Bantry Bay
This is an affluent suburb in Cape Town near the sea and is one of the wealthiest areas in South Africa. It is loved by cyclists due to its banked roads and smooth curves. The views here are spectacular. It was named Victoria Road in honour of the queen of England. A square meter of the property will cost you R80,000.
6. Nettelton Road, Clifton
Another expensive location in Cape Town is Nettelton Road, a costly area for housing and accommodation. Property prices here range from R47.55 million. A square meter of property is R76,000.
7. Ridge and Cliff Road, Clifton
This is a luxurious area in Cape Town known for its beautiful beaches and serene environment. A square meter of property here costs R78,000 and is the most expensive street in South Africa. South Africa’s millionaires can afford this kind of luxury.
8. Dock Road, V&A Marina, City Bowl
This one is located below Table Mountain in South Africa. It offers a fantastic ocean and mountain view for visitors looking for accommodation and a homely place to stay. A square meter of property here costs R72,000.
9. Beachyhead Drive, Plettenberg Bay
It is located in Plettenberg Bay in the Western Cape of South Africa. It has amazing sea views. It is one of the most sought-after locations for visitors and residents. A square meter of property here is R37,000.
10. Lagoon Drive, Umhlanga
This is another beautiful area in KwaZulu-Natal. It has fantastic accommodation facilities and services like a swimming pool, car parking, free wifi, barbeque area, and children’s playground. A square meter of property here will cost you R40,000.
Frequently asked questions
A lot of African look for a good place to live or spend their vacation. They are eager to find out what is the best place. Here are some of the most common questions that you should know.
What is the most expensive suburb in South Africa?
Clifton is the most expensive suburb. You need to pay at least R72,0000 to get a square meter of property here. You can work hard and earn enough money to own a house in this expensive area.
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Where do the rich live in South Africa?
The rich mostly live in the Cape Town area near the sea and has terrific housing and accommodation facilities. Cape Town is a gem in South Africa given its location and diverse culture. It is one of the best places to visit in Msanzi.
Which suburb has a history to it?
Victoria Road has a history of its origins. It is named after Queen Victoria of England who once visited the area. Today, it is home to the rich and a rising middle class in the country.
What is the richest part of South Africa?
The richest part of South Africa is Cape Town. Here, the property is worth millions of dollars, and only a few can afford it. It is a mineral-rich region offering oceanic views. The first European settlers camped here due to its amazing weather.
Where do the rich live in Cape Town?
The rich live in several areas like Camps Bay, Clifton, Bantry Bay, Victoria Road, and Fresnaye. These are areas famous for posh living.
The wealthiest suburbs in South Africa have multi-million-dollar homes and accommodation facilities that only a few can afford. They are beautiful areas that offer incredible views and houses.
Briefly.co.za published an article about the richest people in South Africa comprising of people who have earned a lot by making investments in the mining industry and doing business. They include Johann Rupert, Nicky Oppenheimer, Koos Becker, Patrice Motsepe, and Jannie Mouton.