Property

Ultra-wealthy buyers are buying multiple homes for over R100 million in these South African hotspots

Kirsten Minnaar • 17 May 2026

South Africa’s ultra-wealthy are increasingly adopting a “hybrid” lifestyle by keeping luxury homes in Johannesburg while buying high-end coastal and lifestyle properties worth up to R100 million in other South African hotspots.

Pam Golding Properties Gauteng Metro regional head, Mariël Burger, said proximity to key commercial nodes such as Sandton, Rosebank, Illovo and Melrose Arch, and access to leading schools, are key to Johannesburg’s appeal.

“While much is said about semigration to other provinces, Johannesburg retains its position as the country’s economic hub.”

The Africa Wealth Report 2025 by New World Wealth revealed that Johannesburg remains Africa’s wealthiest city, home to approximately 11,700 US dollar millionaires, well ahead of Cape Town, which has around 8,500.

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

This is even true 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.

Buyers often invest R20 to R40 million and upwards as primary luxury Gauteng residences, and easily spend R60 million and above in Cape Town.

They rarely relinquish their Johannesburg bases, particularly in upmarket areas such as Melrose, Athol, Saxonwold, Westcliff, Hyde Park, Illovo and Inanda, or estates like Eagle Canyon and Blair Atholl.

Burger said easy airport access is accelerating this trend, with OR Tambo International Airport only 30-45 minutes from Sandton.

Meanwhile, Lanseria International Airport is favoured for private aviation and ease of access to estates such as Steyn City, Blair Atholl and Eagle Canyon.

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

This will further reinforce 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.

“Johannesburg continues to play a pivotal role as the country’s primary business hub, and the city remains indispensable for many high-net-worth individuals,” added Pam Golding CEO, Dr Andrew Golding.

“Notably, there has been an uptick in rebuild activity in the R30 million-plus bracket, with older homes being replaced by bespoke, design-led residences that prioritise luxury, sustainability and self-sufficiency.”

South Africa’s super-prime residential market soars

Golding said that South Africa’s super-prime residential market, defined as properties north of R20 million, has emerged as one of the most compelling and resilient segments of the property landscape.

“Over the past 12 to 18 months, this exclusive tier has demonstrated remarkable dynamism, consistently outperforming broader market trends and attracting a sophisticated mix of local and international high-net-worth buyers.”

“Driven by a convergence of lifestyle aspirations, capital preservation strategies and global mobility, the market has evolved into a powerful statement of both wealth and intent.”

“Momentum at the very top end has been particularly striking, with record transaction volumes and values having been achieved across key luxury nodes, and 2025 already surpassing 2024’s performance.

“In Cape Town alone, where property prices move closer to global prime markets, we’ve seen a notable rise in high-end residential sales exceeding R50 million and even R100 million and beyond.”

This sustained activity reveals that the ultra-high net worth segment is relatively insulated from from broader economic pressures, and is abile to act decisively when exceptional opportunities arise.

Golding said that at the heart of this demand lies a clear shift in how luxury property is perceived. For today’s affluent buyer, prime real estate is far more than a residence – it is a strategic asset.

High-end homes are increasingly regarded as reliable vehicles for preserving capital, a buffer against shifting economic cycles, and a long-term lifestyle investment.

This dual appeal of financial prudence and luxurious lifestyle continues to underpin the market’s resilience, even in the face of global uncertainty.

“Buyer preferences are equally well defined. Discerning purchasers are uncompromising in their expectations, prioritising exceptional locations, uninterrupted views, privacy, and world-class security.”

Convenience, accessibility, and architectural excellence remain key for buyers, many of whom are intent on creating bespoke homes – often incorporating off-grid, energy-efficient and water-wise features as standard.

Luxury properties across South Africa are flying off the shelves

This trend is evident across South Africa’s most desirable regions. Along Cape Town’s Atlantic Seaboard and within the City Bowl, demand has reached unprecedented levels.

Prime properties are often sold within days or weeks of listing and increasingly even before they are publicly listed.

The market here is characterised by Johannesburg-based executives expanding their property portfolios, as well as international ‘jet-set’ buyers.

Pam Golding’s Western Cape regional head, Basil Moraitis, said high-net-worth buyers are generally Johannesburg-based with a property in Plett, the Garden Route, on the Atlantic Seaboard or in the City Bowl.

Jet-setters are usually based in Europe and the UK and spend the European winters in the Southern Hemisphere, often acquiring residences valued from R60 million to over R100 million.

In the Western Cape’s Boland and Overberg regions, Hermanus is a highly appealing option for high-net-worth home buyers, who at the top end are prepared to invest from R20-R50 million and as much as R150 million.

Pam Golding’s Annien Borg said these purchasers look to own properties right on the seafront, and are prepared to demolish if the position is prime, with views of the ocean and mountains, or to secure added privacy.

Beyond Cape Town, the Garden Route, including Plettenberg Bay, has seen strong demand from affluent buyers across Gauteng and other provinces.

These purchasers include successful entrepreneurs, professionals and retirees seeking a superior quality of life, often acquiring second homes or transitioning to coastal primary residences.

Investors are equally active, recognising the region’s potential for both holiday rental income and long-term capital appreciation.

Pam Golding’s Plettenberg Bay area principal, Gordon Shutte said popular locations include Goose Valley, Beachy Head Drive, Sanctuary and Solar Beach, Upper Central/Central, Whale Rock, Brackenridge and Twin Rivers.

“While our recent luxury sales transactions include houses for R26.55 million in Central Beach and R35 million in Poortjies, prime top-end homes in Beachy Head can range up to R100 million.”

The KwaZulu-Natal North Coast is also experiencing renewed momentum, with areas north of Durban attracting affluent buyers from Johannesburg and abroad.

The rapid development of Sibaya, alongside significant investments such as the planned Porsche flagship dealership and the arrival of Club Med, is enhancing the region’s profile.

Sibaya is popular due to its proximity to the airport, and sea views are a must for high-net-worth buyers, who also require security and modern homes as they don’t have the time or inclination to renovate.

Prices for these homes range from R30 million plus, according to Pam Golding area principal Carol Reynolds.