The latest newsletter from Lightstone has identified the top five sought-after suburbs among affluent South Africans, based on property sales data and total purchase prices for the year 2023.
This data indicates shifts in South Africa's real estate landscape, with Bryanston in Gauteng emerging as the leading suburb in terms of both sales volume and total purchase value for the period.
Sea Point in the Western Cape climbed to second place in 2023, up from third in the previous year, while Midstream Estate in Gauteng slipped to third position after ranking second in 2022.
Notably, Val de Vie and Fresnaye, which occupied the fourth and fifth spots respectively in the Western Cape in 2022, dropped out of the top five in 2023. In their place, Sibaya Coastal Precinct in KwaZulu-Natal claimed fourth position, followed by Sunningdale in the Western Cape at fifth.
The following table illustrates the top five suburbs with the highest number of property transfers valued over R1 million:
