A growing number of Gauteng’s wealthy residents are adopting a dual-residence lifestyle, retaining their primary homes in Johannesburg while investing in secondary properties across South Africa’s top coastal and leisure destinations.
Palm Golding property experts say the trend reflects a shift in lifestyle preferences rather than a mass departure from the country’s economic hub.
“While much is said about semigration to other provinces, Joburg retains its position as the country’s economic hub,” said Pam Golding Properties regional head for Gauteng Metro, Mariel Burger.
Burger said proximity to key commercial nodes such as Sandton, Rosebank, Illovo and Melrose Arch — as well as access to leading schools — continues to anchor demand in the city.
“In my experience, Joburg remains the irreplaceable business and family hub for the bulk of these high-net-worth individuals,” he said.
Wealth data supports this position. According to The Africa Wealth Report 2025 by New World Wealth, Johannesburg remains Africa’s wealthiest city, home to about 11,700 dollar millionaires, compared with about 8,500 in Cape Town.
Market activity in Gauteng’s upper-end segment also points to continued confidence. Burger noted that affluent buyers are investing heavily in primary residences, often in excess of R20m.
“Often investing R20m to R40m and upwards as primary luxury Gauteng residences, they rarely relinquish their secure, school-proximate Joburg bases,” he said.
Meanwhile, REMAX One sales associate Tanya Sakota said the trend is most visible in Bedfordview, Senderwood, St Andrews and surrounding suburbs, where established high-income families continue to anchor themselves in Johannesburg while building second homes along the coast.
She said there is a long-standing pattern of wealth creation in the city, with coastal properties typically held as holiday homes.
“Once children finish school and move out, many homeowners gradually spend more time at these coastal properties — often in Cape Town or KwaZulu-Natal — which they have owned for years. Over time, these second homes tend to evolve into retirement bases, with some owners eventually selling their Johannesburg properties,“ Sakota said.
She added that Johannesburg continues to dominate when it comes to business and career opportunities, keeping professionals and business owners rooted in the city during their working lives, while coastal regions remain firmly positioned as lifestyle and retirement destinations.
Pam Golding Properties CEO Andrew Golding said momentum at the top end had been particularly striking, with record transaction volumes and values achieved across key luxury nodes.
“In Cape Town alone, we’ve seen a notable rise in high-end residential sales exceeding R50m and even R100m and beyond,” he said.
Golding said the resilience of the super-prime market reflects a shift in how affluent buyers view property.
According to Golding, prime real estate is viewed as a strategic asset, with high-end homes regarded as a reliable preservation of capital and a long-term lifestyle investment
Beyond the Western Cape, coastal regions such as the Garden Route and KwaZulu-Natal North Coast are also benefiting from increased interest.
“The Garden Route has seen strong demand from affluent buyers across Gauteng, many acquiring second homes or investment properties,” said Gordon Shutte, area principal for Plettenberg Bay at Pam Golding Properties.
In addition, easy airport access is accelerating this trend, with proximity to OR Tambo International Airport and Lanseria International Airport supporting both commercial and private travel between Johannesburg and other regions.
“Joburg continues to play a pivotal role as the country’s primary business hub and remains indispensable for many high-net-worth individuals,” Golding said.
Update: April 29 2026
This article has been updated with more comment and background information.
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