Last updated on Jan 21st, 2021 at 12:12 pm

Most of us dream about possibly retiring to a little cottage on the coast … if we’re lucky!

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Wouldn’t you like to own a second home? Or be able to pay off your first? How about just being able to afford to retire when you need to?

Watch: Secrets of millionaire couples and your monthly budgeting strategy!

Click here to sign up to watch a FREE CONTENT-PACKED TRAINING VIDEO on three secrets to creating wealth, and the monthly budgeting framework that millionaire couples use that you can copy starting right now!

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South Africa’s super rich are able to purchase million-rand mansions in coastal towns and beautiful farming districts where they can put their feet up and relax after a long year making stacks and stacks of cash.

According to the recently-released South Africa 2016 Wealth Report, from New World Wealth, Plettenberg Bay is the number one spot for the uber-wealthy to purchase their second homes.

And we’re not talking “3 bedroom, 2 bathroom” townhouses

Plettenberg Bay boasts over 120 homes valued at R20 million or more – the highest of any town in SA with the exception of Johannesburg and Cape Town.

According to the report, over 260 multi-millionaires have purchased second homes in Plett, with the top areas being Beachyhead Drive, Solar Beach, Whalerock Ridge Estate and certain parts of old Plett with views over the lagoon. Most of the buyers have primary residences in Johannesburg and Cape Town.

Other major second home hotspots include: Umhlanga, La Lucia, Knysna, Stellenbosch, Franschhoek, Paarl and Wilderness.

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So what exactly makes a multi-millionaire?

The Wealth Report categorises the uber-rich as follows:

  • High Net Worth Individuals (HNWIs) have net assets worth US$1 million or more.
  • Multi-millionaires are individuals with net assets of US$10 million or more.

There are currently around 38 500 HNWIs living in SA right now (check out your neighbour!), and out of these, 2 030 of them are multi-millionaires.

The Wealth Report has put together lists of the top-rated luxury clothing brands, and vehicle brands that home-grown multi-millionaires love to have:

Where else are the uber-wealthy buying second homes?

The number of multi-millionaires with second homes in small towns:

1.            Plettenberg Bay – 260

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2.            Umhlanga and La Lucia – 250

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3.            Knysna – 230

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4.            Stellenbosch – 170

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5.            George – 130

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6.            Ballito – 90

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7.            Paarl – 80

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8.            Franschoek – 70

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9.            Wilderness – 60

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10.         Hermanus – 40

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11.         St Francis Bay – 20

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12.         Kenton-on-Sea – 20

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13.         Margate & Ramsgate – 20

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(This list excludes Johannesburg and Cape Town)

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Wouldn’t you like to own a second home? Or be able to pay off your first?

How about just being able to afford to retire when you need to?

Watch: Secrets of millionaire couples & your monthly budgeting strategy!

Click here to sign up to watch a FREE CONTENT-PACKED TRAINING VIDEO on three secrets to creating wealth, and the monthly budgeting framework that millionaire couples use that you can copy starting right now!

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