SA has the product but lacks the history and the buyers

At the very top of the range - in Monte Carlo, London or Manhattan - property prices tend to hold their own, no matter what the economy does.

Only a few weeks ago in Monte Carlo, a three-bedroom apartment sold for à 240-million - that's well over R2-billion. Its floor space was double the average Bishopscourt family home, but it was sold leasehold for 97 years. And it is in a tax jurisdiction that lets the wealthy hold on to their fortunes.

Before that, a penthouse in London's Knightsbridge went for £135-million - more than R1.5-billion.

We're not talking small change when it comes to the super-rich. And these, don't forget, are one-of-a-kind places - not your average grandiose Sandhurst residence.

Some of the international über-rich might sniff around SA's private game reserves or its Cape wine farms every now and again, but they don't necessarily sell fast. In the Western Cape, there's a fair choice of ancient monuments with vineyards and wineries for sale from R30-million to R50-million. And for the same sort of prices, there are game farms and lodges to be picked up across the country, though it's worth checking that there are no land claims pending.

A mansion in Plettenberg Bay can probably be had for less than R20-million, but it's for holidays, not for living in all year.

Where do you live if your office is in Cape Town, Joburg or Durban? In Joburg's Sandhurst, for just R90-million, Pam Golding recently offered "majestic surroundings" plus "expansive presidential reception rooms" plus, plus, plus. And, if you need a mortgage, it'll only cost you a monthly R839000 for the next 20 years.

There's plenty for sale in Sandhurst; less so in the older suburb of Westcliff, where Lew Geffen can set you up with four reception rooms and five bedrooms for a modest R22-million.

Houghton Estate went through a rough patch a couple of decades ago, but it's on the up and agents aren't averse to mentioning its most famous resident when it comes to pushing a sale. There are still some (comparative) bargains.

In Joburg, you have to be in the northern suburbs. Cape Town is different - you live according to your lifestyle. Wealthy bachelors might well gravitate towards the Atlantic seaboard. Prices might leave some gaping - R120-million for a house on Nettleton Road, while apartments overlooking First Beach can start at a modest R30-million.

If you want a home to match your billionaire status, look in Constantia or, at a pinch, Bishopscourt. All this, modern or traditional, from R30-million to R40-million.

Durban is often seen as Cape Town's poorer sister, but at least it has an ocean that is warm enough to swim in. Penthouse apartments in Umhlanga Rocks are around half the price of similar units in Clifton. Durban doesn't seem to boast that in-your-face opulence you find in the other two cities.