KNYSNA NEWS - Johannesburg dominates the list of where South Africa’s ultra-rich are living, according to research conducted by New World Wealth (NWW), but among these Knysna comes out tops in the Garden Route.
There are currently just over 49 000 high net worth individuals (HNWIs) living in South Africa as of June 2014, according to the Johannesburg-based wealth consultancy.
About 2 060 of these individuals can be classified as multimillionaires, NWW said.
For the purposes of this study, a millionaire (or HNWI) has net assets of about R11-million or more, while a multimillionaire has net assets of at least R110-million.
In Johannesburg, Sandhurst has the most resident multimillionaires at 130, followed by Hyde Park and Bryanston with 120 each and Houghton is home to 60 multimillionaires, according to NWW, sharing that number with Umhlanga in Kwa-Zulu Natal.
Camps Bay in the Western Cape boasts 50 multimillionaires, while Knysna has 40 and Plettenberg Bay 30.
According to the study, about 2 500 foreign multimillionaires have second homes in South Africa, taking the overall total to 4 500 multimillionaires who have second homes in the country.
The study has also found that Knysna tops the list nationally for the highest number of multimillionaire-owned second homes, at 320.
Umhlanga comes in second at 250, followed by Camps Bay at 220 and Plettenberg Bay 180.
ARTICLE: BUSINESSTECH
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