Western Cape Wonders in the New World Wealth Report
South Africa boasts a staggering 318 000 residential properties within secure gated communities. With a combined value of R643 billion, equating to just under R2 million per property, luxury lifestyle estates continue to attract a growing number of domestic buyers as well investors from across the world.In a bid to share some light on this fascinating sector, New World Wealth released a report rating the top 10 residential estates in South Africa. The first of its kind from the highly reputable company, who specialize in providing information on global wealth trends, was predominately dominated by estates in the Western Cape.The Top 10 are:
Pearl Valley, (Paarl/Franschhoek - Western Cape)Zimbali (Balito - KwaZulu-Natal)Fancourt (George - Western Cape)Arabella (Hermanus - Western Cape)Pezula (Knysna - Western Cape)Atlantic Beach (Blouberg/Melkbostrand -Western Cape)De Zalze (Stellenbosch - Western Cape)Vaal de Grace (On Vaal River, near Parys - Gauteng)Erinvale (Cape Town - Western Cape)Highland Gate (near Dullstroom - Mpumalanga)
Each estate was rated against comprehensive criteria including the monetary value and resale potential of properties on each estate as well as the security provisions in place. The quality and design of homes within the estate, including average stand size, placing and spacing was also taken into consideration as well as the facilities and activities on offer to residents, including the backdrop of scenery and wildlife.It was particularly interesting to note that the Western Cape region overshadowed her Gauteng counterpart, even though nearly half the homes in gated communities are located in the Johannesburg. It remains to be seen if the development of Steyn City, by far the country’s largest residential community and which was not included in this report, alters this dynamic in years to come.
