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The Cape Winelands is home to several dollar billionaires, such as Richemont chair Johann Rupert, Capitec founder Michiel Le Roux and PSG Founder Jannie Mouton.
The municipality, specifically Stellenbosch, is home to the head office of several South African companies, including Capitec Bank, Hungry Lion, Mediclinic International, and Remgro.
The Cape Winelands is also one of the four top destinations for South African centi-millionaires, those with $100 million, just under R2 billion, in liquid investable assets.
Cape Town is the main destination for millionaires, with 34, followed by Johannesburg, with 24. However, the Cape Winelands came in third place, with 18.
The Cape Wineland’s population of roughly 1 million is far less than that of Cape Town and Johannesburg, where both sit at approximately 5 million people.
The vast wealth of the Cape Winelands saw its most wealthy people being named ‘The Stellenbosch Mafia’ by EFF leader Julius Malema.
Many of the new buyers coming to the area are drawn to the area’s superior service delivery, lifestyle, amenities on offer, and natural beauty.
According to Lightstone’s recent annual sentiment survey among Estate Agents, South African home buyers will consider lifestyle and amenities the most important aspect of buying a property, at 33% in 2024.
Many are hungry for lifestyle amenities and are making their way to some of South Africa’s premier estates, such as Val de Vie outside of Paarl.
The area is also increasingly popular among older property buyers, who are attracted to its beautiful, tranquil environment and first-class medical facilities.
“There is a huge shortage of suitable retirement properties, so units in new developments are selling soon after coming onto the market,” said Surina du Toit from Pam Golding Properties.
