The top trends in South African prime property for 2022 have been reviewed by Henley & Partners following their recent SA top 10 lifestyle estate ratings.
READ: The top lifestyle estates in South Africa for 2022
Notably, South Africa is home to some of the world’s poshest residential areas including Clifton in Cape Town, Beachy Head Drive in Plettenberg Bay, Lagoon Drive in Umhlanga, Eastcliff in Hermanus, and Sandhurst in Johannesburg.
According to New World Wealth’s latest figures, there are approximately 3 600 homes in South Africa that are valued at over US$1 million (R18 million) as of June 2022. By this measure, South Africa ranks as the 25th largest prime residential property market in the world, well ahead of the other countries in Africa and in line with big emerging markets such as India and Brazil.
READ: Umhlanga's property market continues to perform well
Around 40% of these homes are in the “Prime 8” suburbs of Cape Town, namely: Clifton, Bantry Bay, Fresnaye, Llandudno, Camps Bay, Bakoven, Bishopscourt, and Constantia.
Top trends in SA prime property for 2022:
Safety & Security - According to Michael Curtis from security specialists Saber Fence the search for safety is the main driver of new trends in the South African residential property space - it is linked to the rise in home security, the rise of estate living, the rise in apartment living, and the ongoing movement of affluent people to safer parts of the country.
It is also interesting to note that the average freestanding house in South Africa has a security score of only 4 out of 10.
READ: Top Cape Town and Gauteng upmarket estates popular with high-end buyers
Affluent buyers in SA are steadily moving away from houses and towards luxury apartment complexes. Drivers of this move include safety & security, stable monthly costs, and less cleaning and general maintenance required.
Lifestyle estates are also on the rise, especially ecologically friendly lifestyle estates with natural indigenous wilderness areas, also known as “eco-estates”.
Wealthy South Africans (especially those over the age of 60) are moving away from the big cities and towards smaller towns, which are often safer and better run. Towns in the Cape Winelands, Garden Route and Whale Coast are becoming particularly popular.
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