Douw Steyn - Owner of most expensive property in South Africa

Insurance tycoon, Douw Steyn is the owner of South Africa’s most expensive residential property.

(Image via Beeld)

The aptly named Palazzo Steyn is the most expensive home in South Africa and according to reports building costs amounted to around R250 million - almost as much as that of Jacob Zuma’s Nkandla homestead.

The home was completed last year and is spread out over more than  3?000?m² – inside this mansion you will find three hospitality standard kitchens, a wine cellar and seven bedrooms. The garden is sprawls over three hectares and the there is space for 33 cars in the garage. 

The home is situated in the Steyn City development and is the first residential property to be finished inside this highly anticipated estate.

The founder of Auto & General moved to the UK in 1992, but still spends a lot of time in South Africa - and his trust in the country made him decide to invest in the development of the residential estate.

Asked why it is called Steyn City, he reportedly said “Does anyone ever ask Donald Trump why he named his building in New York, Trump Tower?”

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  • Glenn Norton - posted 22 Jun 2014 08:55 AM                                    

    Mr Steyn Still has lots of confidence in the South African property market and so do i.

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