While Plettenberg Bay and Knysna have for many years been seen as a playground for the rich and the famous, this perception has been supported by research year after year – and 2016 is no different.
According to this year’s wealth report, compiled by New World Wealth, the towns once again top the list of preferred destinations among South Africa’s super wealthy.
Among the findings the report, which was released this month, shows the largest portion of the country’s multimillionaires choose Plett to buy second or holiday homes.
The report is the result of extensive research covering the high and ultra net-worth individual populations, as well as the luxury and wealth management markets in South Africa. It focuses on millionaire performance over an eight-year period between the end of 2007 – the peak before the global financial crisis – and the end of last year.
By the end of 2015 there were about 38 500 of these super wealthy businessmen and women living in South Africa, with a combined wealth of $159-billion.
Head researcher Andrew Amolis said most of the homeowners in Plett were from Johannesburg and Cape Town, and that the preferred areas in the town included the famous Beachyhead Drive, Solar Beach and Whale Rock Ridge Estate.
Keurbooms next for super wealthy
Amolis added that the Keurbooms area was also set to become more popular among wealthy owners of second homes over the next year, as it offered residents more privacy than the town itself.
While Knysna was the second most popular town in the same category last year, it has dropped a spot this year. It is however still home to 230 multimillionaires. Umhlanga and La Lucia in Kwazulu-Natal just edged ahead of Knysna with 250 super wealthy residents.
Plett and Knysna also featured on the list of top estate choices for the well-off. The number one choice is Durban’s Zimbali with 30 multimillionaires living on the estate. George’s Fancourt and Knysna’s Pezula came in at a combined third, with 10 permanent residents each.
As a preferred estate for a second home – Fancourt came out on top with 70 residents, Zimbali second with 60 and Pezula third with 50. Plett’s Whale Rock Ridge featured fifth and Knysna’s Pezula sixth with 20 residents. Knysna’s Thesen Island came in eighth with 10.
Knysna’s tourism body Knysna & Partners chief executive Greg Vogt said attracting and retaining these residents had been a priority for the town.
To attract and retain these residents Vogt said the town had taken massive strides in offering good schools, attractions and good internet – including a world-class fibre optic network set to be rolled out in the next five years.
Plett Tourism spokesperson Patty Butterworth said while this had not been a focus for them, the reason the town was popular among the rich was a natural progression following efforts over the years to create a world-class experience for visitors.
“And with the Plett Airport fully functional, with regular flights to business centres, we expect this sector to grow,” Butterworth said.
