PROPERTY AND WEALTH.
“PRICE IS WHAT YOU PAY. VALUE IS WHAT YOU GET” - WARREN BUFFETT.
Property is the confirmation of wealth.
Have you ever thought where super-rich people buy properties?
According to Knight Frank’s “The Wealth Report 2013”, high- net worth-individuals with $30 million and more in net assets account for .003% of the global population. Of these about one third live in the U.S.A. New York is the No.1 location for the global super-rich owning property . London is second followed by Tokyo, San Francisco, L.A, Beijing, Mumbai, Hong Kong, Sao Paulo and Rio de Janeiro as the top ten global locations.
In South Africa, Sandhurst in the northern suburbs of Johannesburg, wins the top position as the area for the rich and famous to live. According to the ‘British Wealth Insight ‘ - 38 multi-millionaires live in Sandhurst. That is about 5.9% of the total population of the suburb. One of its best known inhabitants is Minister Tokyo Sexwale.
The Top 10 areas where the super- rich in South Africa live:
No.Properties of R20 mil
In 2012 a super luxury property in Clifton sold for a whopping R198 mil to a foreigner making it the highest price ever paid for a residential property in South Africa.
In the past year since March 2012 the highest prices for local houses were paid in Zimbali selling between R10 mil to R14 mil with the most expensive house sold in September 2012 for R20 million in Zimbali.
Locally, Vince Christoforos, developer and owner of ‘The Reserve” development in Zimbali, says that the highest price ever paid for single residential stand in KZN was R11 million for a beachfront Zimbali stand.
Although Ballito and its surrounding upmarket estates are not yet ranked among the top 10 areas in South Africa, indications are that higher prices are on the rise. According to FNB Property Barometer, the average full title house prices for Ballito for 2012 to 2013 was between R1.8 mil to R2 mil.
Let us, your professional Realtors at Harcourts Dolphin Coast, assist you in building your property portfolio to build your wealth. Whether you start small or want to add to your current property portfolio, investing in property is your way to wealth.
WEALTH AND PROPERTY:
The all-time bestseller of Dolf de Roos: ‘Real Estate Riches” guides readers from all walks of life on how to find great property deals and to make great profits in the real estate market.
To quote Lou Scott: Property is “the basis of all wealth, the heritage of the wise, the thrifty and prudent – the rich man’s prize, the right hand of capital, the silent partner of many successful men.”
We are ready to assist you in building your property portfolio to Real Estate Riches.
Property is our business, but People our passion.
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