Saturday, March 18, 2017
South Africa is the Largest Wealth Market in Africa
South Africa Wealth Report 2017: SA is Home to 40,400 HNWIs, With Combined Wealth Holdings of US$171 Billion - Research and Markets
DUBLIN, Mar 16, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "The South Africa 2017 Wealth Report" report to their offering.
South Africa is the largest wealth market in Africa. This report covers wealth, luxury, prime property, collectable and wealth management trends in South Africa from 2006 to 2016, with projections to 2026.
- The average South African individual has net assets of approx. US$11,300, which is the 2nd highest level in Africa, behind Mauritius.
- SA is home to 40,400 HNWIs, with combined wealth holdings of US$171 billion.
- Paarl, Franschoek & Stellenbosch is the fastest growing South African city/area for HNWIs, with numbers rising by 48% during the review period (2006 -2016). HNWIs on the Garden Route and the Whale Coast also performed well (mainly due to a trend of retiring HNWIs moving there).
- African HNWIs (from countries such as Nigeria, Angola & Ghana) are increasingly buying residential property in South Africa.
- Luxury retirement estate living is on the rise in SA (example: Waterfall Mature Lifestyle Estate).
- Luxury apartments and hotel residences are on the rise in SA.
- Cape Town is one of the 20 top second home hotspots in the world for multimillionaires (along with the likes of Sydney, St Tropez, the Hamptons, Miami and Palm Beach). Most of the wealthy people with second homes in Cape Town are from Johannesburg, the UK, France, Germany, Switzerland, USA, Nigeria and the Gulf. Wealthy Europeans usually use these homes to escape from their winter months.
Click here to read more.