The Western Cape continues to be the obvious choice for wealthy international investors and Africa’s mega rich with four of the five most exclusive residential estates in South Africa being located in the region.
Whilst the New World Wealth Report awarded the most exclusive estate in the country to Zimbali Coastal Resort located next to Balito just outside of Durban, the Western Cape continues to dominate with The Gentleman’s Estate at Val die Vie coming in at second, Pezula Private Estate on the Garden route third, Fancourt fourth and Pearl Valley Golf and Country Estate being placed at fifth place.
Each estates was rated on a specific criteria based on their appeal purely to the super-rich. The 700 hectare Zimbali estate traces the Umhlanga and La Lucia region and has become the premier luxury area on the east coast of South Africa and features a world class golf course, hotel and spa as well as being the only estate on the north coast of KwaZulu-Natal with direct access to the beach.
According to South Africa estate property specialist Basil Weinrich, the top things that wealthy people look for when buying an estate property are space, exclusivity, security, view, nature and scenery. “Locality and lifestyle offerings are also critical” explains Weinrich.
Earlier this year, the Johannesburg based global wealth intelligence and market research company featured the top 10 residential estates in South Africa, where Pearl Valley Golf and Country Estate in the Western Cape topped the list and Zimbali came in second.
According to Lisa Bathurst, Director of Cape Town based property company Hurst & Wills, exclusive estates world-wide are bound to be popular with the super rich as not only do they offer the obvious luxuries and perks but they tend to have the best security which is key for these individuals, who travel regularly.
“Of course, there is also an element of status attached to owning properties at these estates and many of the rich see Cape Town as the St.Tropez of Africa. As a result , for the same reason that the super rich will own certain brands of cars and clothes, they also desire to attain a property portfolio (often international and in these locations) that matches the rest of their life" says Bathhurst
The report highlighted the Yellowstone Club situated in Sky, Montana, USA, as their most exclusive estate worldwide for 2015. Homes on the private residential estate, which features a world class golf course, ski slopes hiking trails and 13,600 acres of land and easy access into the wilderness areas that surround it, start from a base price of US$16 million. Activities available on the estate include fly fishing, golf, horse riding and rafting during the summer and snowmobiling and skiing for the winter.