New World Wealth and Henley & Partners have published their African Wealth report for 2022, detailing the living and travel trends of South Africa’s wealthiest citizens.
The report focuses on high net worth individuals with a wealth of $1 million or more. Total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets – property, cash, equities, business interests – less liabilities.
This forms part of a broader trend by the country’s affluent to leave traditional suburban and city living in favour of secure ‘lifestyle estates’. “Affluent buyers in South Africa are increasingly moving towards estates that have apartments. In line with this, most new luxury estate developments in South Africa focus on apartment living rather than houses,” New World Wealth said.
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