According to a report on TimesLive, more than 1‚700 South African families live in houses‚ apartments and wine farms valued at R20-million each and Plettenberg Bay has the largest number of these homes on the Garden Route, at 130.
The South African Wealth Report uses the number of R20-million properties in an area to determine the exclusivity of a suburb.
New World Wealth head researcher Andrew Amoils said it allows one to see how many “very wealthy people” are living in an area.
“However‚ this measure can be deceiving as areas that are mainly large houses‚ such as Sandhurst‚ Plettenberg Bay and Bishopscourt‚ tend to outperform areas that are mainly apartments‚ such as Umhlanga‚ as very few apartments are large enough to cost over R20-million.
Read the full article on TimesLive’s website to see which other towns feature on the list.
