The richest suburbs and streets in South Africa

The latest Africa Wealth Report for 2022 was recently published by New World Wealth and it reveals that much of the wealth still resides in the cities, particularly Johannesburg and Cape Town. 

The five South African cities in the top 10 of Africa's most wealthy cities are Johannesburg, Cape Town, Durban, Umhlanga, and Pretoria. 

New World Wealth in partnership with Henley & Partners reported that despite a tough decade to date, “South Africa is still home to more than twice as many millionaires as any other African country.” 

Furthermore, South Africa continues to attract high net worth individuals (HNWI) due to its weather, environment, and well-established residential areas such as Camps Bay. A large stock exchange, free media, and a well-developed banking system and wealth management sector further add to the appeal for investors. 

Rankings are determined by the total wealth held by all individuals living in each city and NHWI in terms of the report refers to dollar millionaires. 

Johannesburg is South Africa richest city, with most of the wealth concentrated in the suburbs of Sandhurst, Hyde Park, and West Cliff. In Cape Town, Clifton, Bantry Bay, Fresnaye, and Camps Bay are the richest suburbs in the city. 

The majority of KwaZulu-Natal HNWIs are concentrated in the beach city of Umhlanga, however, the residential towns of La Lucia, Ballito, and the city of Durban also contribute to the wealth of the province.

Most expensive streets or suburbs in South Africa

Suburb Rand per square meter
Clifton R80 000
Bantry Bay R75 000
Fresnaye R58 000
Camps Bay and Bakoven R52 000
Llandudno R50 000

Most expensive streets or suburbs outside of Cape Town

Suburb/Street Rand per square meter
Lagoon Drive, Umhlanga R36 000
Eastcliff, Hermanus R35 000
Beachyhead Drive, Plettenberg Bay R34 000
Central Sandton R32 000
Marine Drive, Umhlanga R30 000

More Market & Opinion articles
How to determine a realistic rental budget
Market & Opinion
How to determine a realistic rental budget
06 May 2025
Finding the perfect rental property can be an exciting journey, but it’s also one that requires careful financial planning. One of the most common mistakes tenants make is determining their rental budget based solely on the maximum amount they believe they can afford. While this might land you a dream home in the short term, it can quickly turn into a financial nightmare if you’re left struggling to cover your rent and other monthly expenses.
read more
3 Essential tips for home loan success
Market & Opinion
3 Essential tips for home loan success
02 May 2025
Buying a home is a huge milestone—and let’s be honest, it can also be a bit overwhelming. From saving for a deposit to dealing with transfer duties and figuring out your monthly repayments, the process can feel like navigating a maze. But with the right approach, securing a home loan doesn’t have to be a stressful experience. In fact, a little planning can go a long way in making your journey to homeownership smoother, smarter, and more affordable.
read more
Residential
House
Townhouse
Apartment, Penthouse
Retirement Village
Vacant Land
Agricultural
Farm
Small Holding
Vacant Land
Commercial
Office, Retail, Mixed Use
Industrial
Vacant Land
Hospitality