It defines a multimillionaire as someone with net assets of $30-million (about R252-million) or more, excluding primary residences.

In research released yesterday, WealthInsight found that Sandhurst was home to more than 30 South African multimillionaires.

Sandton - which includes Sandhurst, Sandown, Morningside, Hyde Park and Melrose - is considered the banking and wealth centre of South Africa.

It has the highest density of multimillionaires in the country - one in 20 homes is owned by a multimillionaire.

Bryanston accounted for the second-highest percentage of Johannesburg multimillionaires.

Central Cape Town is home for the highest proportion of that city's multimillionaires, with most of them at the Waterfront Marina and in Higgovale, Greenpoint, Oranjezicht and Tamboerskloof.

Camps Bay came in second - it has more homes worth more than R20-million than anywhere else in the country.

Clifton, third-ranked in Cape Town, has the largest number of homes valued at more than R50-million.

WealthInsight said Clifton was the most expensive residential area per square metre in South Africa.

Clifton and Bantry Bay were found to be hot spots for foreign billionaires and multibillionaires, who own some of the biggest and plushest properties in these areas.