News24 | SA’s ultra-rich doubled their property buying in a year
The number of properties acquired by ultra-rich clients in South Africa has more than doubled in the past year, driven by wealth preservation and diversification. According to Chris Browne, the head of wealth and investment at Standard Bank, these clients take a long-term view and strive to reach their investment objectives despite volatile market conditions. The average value of residential properties bought by the rich in South Africa increased by 38% over the 12-month period, partly due to surging house prices in the Western Cape province.
- ▪Africans with at least $50 million in investable assets are increasingly buying property for wealth preservation and diversification.
- ▪The number of properties acquired by ultra-rich clients in South Africa more than doubled in the 12 months through September 2025.
- ▪The average value of residential properties bought by the rich in South Africa increased by 38% over the 12-month period.
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For more financial news, visit News24 Business.Africans with at least $50 million (R812 million) in investable assets are increasingly buying property for wealth preservation, diversification, and potential rental income, according to the continent’s biggest lender by assets. In South Africa, the number of residential and commercial properties acquired by the lender’s so-called ultra-rich clients more than doubled in the 12 months through September 2025 compared with a year earlier, according to Chris Browne, the head of wealth and investment at Standard Bank. Activity surged after the South African central bank began lowering interest rates in 2024 and has remained elevated even as the Iran war fuels inflation and threatens to spur a rate-hiking cycle.
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