South African millionaires are ditching the big city life to settle in smaller towns along the country’s Wine Route in the Western Cape province, according to an AFKInsider report.
Data from advisory firm New World Wealth found that areas such as Paarl, Franschhoek and Stellenbosch are the most popular, with a 38% increase of millionaires between 2007 and 2015. The Garden Route (located on the south-eastern coast of South Africa and which includes towns such as George, Knysna and Plettenberg Bay) also performed well with a 26% increase of millionaires moving to the area within the same period.
That said, Johannesburg is still home to the largest percentage of South African millionaires (44%), while 18% live in Cape Town.
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