Sandton paves golden path in Africa's ultra-luxury property market

Sandton, a bustling financial district in the heart of Johannesburg, South Africa has come to epitomise fine living and extravagance in Africa.

Cape Town came in second, with Cairo third, while Lagos and Durban took positions four and five respectively. Africa’s giant tech start-up ecosystems made the biggest gains, with South Africa leading the pack, adding 3 809 individuals to the million-dollar league, to reach 31 853 in 2021. Luxury penthouses in Africa offer valet parking, round the clock security service, a club room, emergency services on call and a swimming pool, often on an upper floor.

It follows a feasibility study conducted by Lordship which showed high demand for quality accommodation in Upper Hill, which already boasts an impressive skyline. The nearly completed, Belmonte Ultra Luxury Homes is a stunning 20-floor architectural masterpiece nestled on Bourdillon Road, Ikoyi, the wealthiest neighbourhood in Lagos.

“The African construction industry is the target destination for most large economies. This is because of accruing benefits and/or advantages such as availability of huge natural resources, huge investment opportunities in energy and infrastructure, cheap labour, and a fast-growing consumer market,” the Mordor report said in part.

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