Africa is undergoing a wealth boom. With an astounding $2.5 trillion in investible wealth, the continent is on the brink of an economic transformation. According to the 2024 Africa Wealth Report, Africa will see a 65% surge in its millionaire population over the next decade. Mauritius and Namibia are among the top 10 propellants of this wealth explosion, with Mauritius expected to see 95% growth in its millionaire population and Namibia 85% by 2033.

The outlook for South Africa’s housing market is looking increasingly optimistic with a number of positive indicators evident and early signs of sustainable growth in house prices and market activity already starting to emerge, says Dr Andrew Golding, chief executive of the Pam Golding Property group. 

According to the Global Wellness Institute*, health is the new wealth, with wellness features and healthy design considered key components in luxury properties. Wellness amenities for luxury properties have expanded from gyms, spas and swimming pools to a wide variety of design features that encourage contact with nature, mindfulness, sleep and other aspects of mental and social wellness. The Institute predicts that many of these features will increasingly be found in mid-market and more affordable properties, including purpose-built rental communities of single and multi-family homes.

The dust on the national elections has finally settled with the newly formed government of national unity described as a ‘market-friendly outcome’ by Business Day. This is good news for those who have been holding off on property investments as real estate interest picks up, particularly in secure estates.