8 of South Africa's fastest-growing new elite suburbs

17 October 2017 - 15:28 By Nivashni Nair
Fourth Street, Parkhurst.
Fourth Street, Parkhurst.
Image: Vanessa van Vreden

If you live in Seapoint‚ Illovo or Parkhurst‚ you're staying in three of the new elite suburbs in South Africa.

Property in the country's fastest-growing elite suburbs cost between R8‚000 and R30‚000 per square metre‚ almost three times lower than that in the country's most exclusive neighbourhoods.

"We should note that all these suburbs start from a relatively low base when compared to the likes of Bantry Bay and Clifton‚" said New World Wealth head researcher Andrew Amoils.

Fastest growing suburbs in South Africa over the past year (value per square metre):

Seapoint & Three Anchor Bay: R30‚000

Illovo: R17‚000

Parkhurst: R12‚000

Noordhoek: R11‚000

Franschhoek: R10‚000

Natures Valley: R8‚000

Zinkwazi: R8‚000.

• Source: South Africa Wealth Report September 2017 statistics