Plett is one of the most expensive suburbs in South Africa
As part of its annual South Africa Wealth Report, research group New World Wealth has published a list of the most exclusive suburbs in the country as at the end of September 2017.
To determine what makes a suburb “exclusive”, New World Wealth identified two major metrics: price per square meter, and the number of R20 million homes in the area.
NWW said that price per square meter has some limitations. “This is due to the garden element (i.e. how do you value the garden?). The truth is the price per square meter stats only work really well on apartments and some areas don’t have many apartments which make this tricky,” it said.
Hence, the wealth advisory firm also took into account the second metric – the number of R20 million homes in the area.
The tables below outline the most expensive suburbs based on the price of square meterage, and the number of R20 million-plus homes (all figures have been rounded).
Other | No. of R20 million+ homes | No. of R20 million+ homes per unit of population | Population |
---|---|---|---|
Plettenberg Bay | 130 | 0.4% | 31 000 |
Umhlanga and La Lucia | 110 | 0.3% | 32 000 |
Knysna | 100 | 0.2% | 51 000 |
Stellenbosch | 90 | 0.1% | 155 000 |
Paarl | 80 | 0.1% | 112 000 |
Franschoek | 70 | 0.4% | 16 000 |
Ballito (including Zimbali) | 60 | 0.3% | 19 000 |
George (including Fancourt) | 50 | 0.4% | 12 000 |
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