There are now 3,200 dollar millionaires living in Paarl, Franschhoek and Stellenbosch
- Paarl, Franschhoek and Stellenbosch recorded a 20% increase in dollar millionaires over the past 10 years, a new report says.
- The area with the second highest growth was the Garden Route, which saw a 14% increase.
- Meanwhile, Johannesburg lost 4% of its dollar millionaires the last 10 years – but it still houses 42.2% of the country's total millionaires.
Three towns in the Cape Winelands, Paarl, Franschhoek and Stellenbosch, have seen the biggest increase dollar millionaires the past 10 years, a new report by AfrAsia Bank and New World Wealth says.
The South Africa Wealth Report, released on Thursday, found that the number of dollar millionaires in the three towns have grown by 20% since 2007, with 3,200 (7.3%) of South Africa's 43,600 dollar millionaires now living there.
The towns were followed closely in percentage growth by the Garden Route. That part of the country, which includes Knysna and Plettenberg Bay, has seen an increase 14% in the number dollar millionaires, to 3,000 in total.
The Garden Route stretches from Mossel Bay to Storms River on the South Coast.
Meanwhile, Johannesburg lost 4% of its dollar millionaires, and now houses 42.2% of the country's total dollar millionaires, or 18,400 in total.
The metropolitan area, which includes the affluent suburb of Sandton, has 970 multi-dollar-millionaires (with assets more than $10 million) – the most in the country.
Johannesburg is followed by Cape Town who has 490 multi-dollar-millionaires and 8,300 dollar-millionaires.
Durban, which includes Ballito and Umhlanga, has 3,400 dollar millionaires and 210 multi-dollar-millionaires.
Pretoria has 2,800 dollar millionaires and 120 multi-dollar millionaires.
Bloemfontein came in last with only 100 dollar millionaires and 20 multi-dollar millionaires.
Port-Elizabeth was not mentioned in the report.
In total, South Africa's dollar millionaires held $306 billion in private wealth, or 42% of the country's total private wealth.
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