Rich South Africans snapping up multiple houses for work and vacation

There has been a noticeable shift in South Africa’s wealthiest households towards a more “hybrid” lifestyle approach.

Many of the country’s high net-worth homeowners now split their time between two homes, with most having their primary residence in Johannesburg.

These individuals will then maintain a secondary residence in one of the country’s upmarket residential destinations, with areas in the Cape and KwaZulu-Natal (KZN) being particularly popular choices.

This was outlined in a recent insight report from real estate agency Pam Golding Properties, which was published on 28 April 2026.

Pam Golding regional head for Gauteng Mariël Burger said many of these individuals root themselves in Johannesburg for business and work.

“In my experience, Johannesburg remains the irreplaceable business and family hub for the bulk of these high-net-worth individuals,” Burger said.

“Even for those with Cape Town retreats such as Clifton or Bishopscourt, or KZN North Coast getaways like Zimbali, Sibaya and uMhlanga, or Plett and Knysna on the Garden Route.”

Burger said high-earners buying new properties in Cape Town will hold on to their houses in high-value Johannesburg neighbourhoods such as Melrose, Westcliff and Illovo, rather than sell them.

These individuals will then regularly commute between their two residences, with Burger himself saying he personally flies between his Johannesburg and Cape Town homes on a bi-weekly basis.

Convenient airport access is considered a key reason behind this lifestyle shift, considering the proximity of Johannesburg’s major airports to business hubs like Sandton.

Future developments in the Western Cape could drive this lifestyle shift further as travel becomes more accessible between the two cities.

“Looking ahead, the planned Cape Winelands Airport, located north-east of Durbanville, could play a similar role in enhancing connectivity,” Burger said.

“This further reinforces the ease with which affluent buyers can move between Johannesburg and Cape Town, thereby cementing the rise of South Africa’s hybrid luxury living model.”

Hybrid work drives hybrid lifestyles

One of the factors which is believed to have driven the increase in hybrid lifestyles among Johannesburg’s more affluent residents is the rise in popularity of hybrid work models.

Pam Golding CEO Dr Andrew Golding explained in an interview with 702 that this was a consequence of the Covid-19 pandemic that endured in the following years.

“Post-Covid, the hybrid work model allowed people with connectivity to be much more flexible in how they choose to live,” Golding said.

“Johannesburg is still the powerhouse of the country. It’s where a lot of the activity happens, and people need to be there from a business point of view.”

Pam Golding’s report points to Henley & Partners’ Africa Wealth Report for 2025, which lists Johannesburg as the wealthiest city on the African continent.

The data indicates that Johannesburg has approximately 11,700 USD millionaires, whereas Cape Town only has around 8,500.

Golding said these high-net-worth individuals in Johannesburg have been able to take advantage of this hybrid work shift to purchase valuable properties all along South Africa’s coastline.

On the flip side of this, he said another major reason why many of these individuals choose to hold on to their Johannesburg properties is due to the proximity to specific schools.

“Access to schools and convenience in terms of commuting continue to have a very strong demand for relatively little supply,” Golding said.

“There is significant demand for proximity to the best schools, whether that be in Johannesburg or anywhere else in the country.”

Golding said these factors contributed to Johannesburg’s high-end property market experiencing its strongest levels of growth in over a decade.

While this can be seen in the prices of properties in Johannesburg, Golding said it was most noticeable in the sudden shortage of available property stock.

“That is an indicator that the market is starting to move and the balance of power is shifting towards the seller,” Golding said. “That isn’t something we’ve seen for quite some time in that market.”