What are South Africa's fastest growing cities for millionaires?

Durban, South Africa: Durban has seen fastest growth of millionaires in South Africa since 2000.

The city of Durban has seen the fastest growth of millionaires – high net worth individuals (HNWIs) with assets of US$1m or more – in South Africa, according to New World Wealth’s latest report. Since 2000, Durban’s number of millionaires have grown by 200%, compared with a national average of 135%.

“Durban’s strong growth was fuelled by massive millionaire growth in the Umhlanga and La Lucia area, especially among the local Indian community,” says New World Wealth analyst, Andrew Amoils.

“The north coast of Kwazulu Natal (above Durban) is also becoming increasingly popular for the super-rich, especially in the second home market. Specifically, areas such as Ballito and Zinkwazi are new hotspots for investment.”

Read more: South Africa’s fastest growing cities for millionaires.

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