The richest suburbs and streets in South Africa

The latest Africa Wealth Report for 2022 was recently published by New World Wealth and it reveals that much of the wealth still resides in the cities, particularly Johannesburg and Cape Town. 

The five South African cities in the top 10 of Africa's most wealthy cities are Johannesburg, Cape Town, Durban, Umhlanga, and Pretoria. 

New World Wealth in partnership with Henley & Partners reported that despite a tough decade to date, “South Africa is still home to more than twice as many millionaires as any other African country.” 

Furthermore, South Africa continues to attract high net worth individuals (HNWI) due to its weather, environment, and well-established residential areas such as Camps Bay. A large stock exchange, free media, and a well-developed banking system and wealth management sector further add to the appeal for investors. 

Rankings are determined by the total wealth held by all individuals living in each city and NHWI in terms of the report refers to dollar millionaires. 

Johannesburg is South Africa richest city, with most of the wealth concentrated in the suburbs of Sandhurst, Hyde Park, and West Cliff. In Cape Town, Clifton, Bantry Bay, Fresnaye, and Camps Bay are the richest suburbs in the city. 


3 Bedroom Penthouse for sale in Clifton | R115,000,000 | Click here for the full listing details

The majority of KwaZulu-Natal HNWIs are concentrated in the beach city of Umhlanga, however, the residential towns of La Lucia, Ballito, and the city of Durban also contribute to the wealth of the province.

8 bedroom house for sale in Umhlanga Rocks | R12,500,000 | Click here for the full listing details

Most expensive streets or suburbs in South Africa

Suburb Rand per square meter
Clifton R80 000
Bantry Bay R75 000
Fresnaye R58 000
Camps Bay and Bakoven R52 000
Llandudno R50 000

4 bedroom house for sale in Hyde Park | R30,000,000 | Click here for the full listing details

Most expensive streets or suburbs outside of Cape Town

Suburb/Street Rand per square meter
Lagoon Drive, Umhlanga R36 000
Eastcliff, Hermanus R35 000
Beachyhead Drive, Plettenberg Bay R34 000
Central Sandton R32 000
Marine Drive, Umhlanga R30 000

6 bedroom house for sale in Mooikloof Equestrian Estate | R20,000,000 | Click here for the full listing details

More Market & Opinion articles
Important red flags in property deals to look out for
Market & Opinion
Important red flags in property deals to look out for
17 Jul 2024
Learn how to spot important red flags in property deals to avoid scams. Verify agents, confirm property ownership, and be cautious of fake listings. Stay vigilant and protect your investment.
read more
Is estate living right for you?
Market & Opinion
Is estate living right for you?
15 Jul 2024
Estate living is rapidly becoming one of the most popular real estate trends in South Africa. With increasing crime rates and a growing emphasis on lifestyle, the demand for secure and quality living environments is on the rise.
read more