What you need to earn to live in SA's most exclusive estates
The list includes the minimum listing prices for properties in Steyn City, Val de Vie Lifestyle Estate, and Zimbali Estate…
Despite South Africa's numerous economic struggles and a high percentage of people living in poverty, the country is still home to many high-net-worth individuals.
Several exclusive luxury estates throughout the country serve as homes to some of South Africa's richest.
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According to the African Wealth Report, millionaires are choosing to live in several exclusive estates in South Africa, which are located in high-net-worth individual (HNWI) hotspots.
BusinessTech recently reported that Johannesburg has the most HNWIs on the continent, with 12,300.
"Johannesburg is home to the Johannesburg Stock Exchange, the largest stock exchange in Africa by some margin and one of the world’s top 20 exchanges," said Henley & Partners and New World Wealth.
Cape Town comes in second with 7,400 HNWIS, and The Cape Winelands, which includes the neighbouring towns of Paarl, Franschhoek, and Stellenbosch, has 3,600 HNWIs.
Durban, Umhlanga, and Ballito all have 3,500 HNWIs.
These hotspots are also home to some of South Africa's most expensive luxury estates.
Two South African estates, Steyn City in Gauteng and Val de Vie in the Western Cape, were also named among New World Wealth’s top ten lifestyle estates for 2023.
So how much do you need to earn to live in these estates?
Using ABSA bank's bond calculator, BusinessTech calculated the minimum amount an individual or household needs to earn to afford the minimum listing prices in these estates.
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The amount was calculated using a 20-year home loan period at an interest rate of 11.75%.
Here's what you need to earn to live in SA's most exclusive estates:
Steyn City - Midrand
- Minimum listing price: R2.45 million
- Minimum salary required: R88,503 per month
Val de Vie Lifestyle Estate – Cape Winelands
- Minimum listing price: R4.85 million
- Minimum salary required: R175,200 per month
De Zalze Winelands Golf Estate - Stellenbosch
- Minimum listing price: R3.95 million
- Minimum salary required: R142,686 per month
Zimbali Estate - KwaZulu Natal
- Minimum listing price: R2.50 million
- Minimum salary required: R90,310 per month
Simbithi Eco Estate - KwaZulu-Natal
- Minimum listing price: R1.80 million
- Minimum salary required: R65,000 per month
Silver Lakes Golf Estate - Pretoria
- Minimum listing price: R3.09 million
- Minimum salary required: R111,600 per month
Woodhill Estate - Pretoria
- Minimum listing price: R2.67 million
- Minimum salary required: R96,450 per month
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IMAGE: Val de Vie Estate