Top 10 most expensive cities in Africa for the super wealthy
Centi-millionaires stand out as significant individuals with enormous impact on the ever-changing fabric of a city’s economic landscape, contributing to the growth and prosperity of the urban environment. These individuals, who have a net worth of more than $100 million, play a critical role in determining the economic, cultural, and charitable dynamics of their communities.
According to Henley & Partners and New World Wealth’s recent Centi-Millionaire report produced on October 10th, 2023 edition, the term ‘centi-millionaires’ refers to individuals with investable wealth of USD 100 million or more.
In its in-house database, New World Wealth follows the movements of over 150,000 high-net-worth people. The database focuses mostly on corporate founders and wealthy persons from high-value organizations who hold the following positions: chairman, CEO, president, director, and managing partner.
Only 28,420 centi-millionaires exist in the world (as of June 2023), making this an extremely exclusive club. In the aforementioned report, a focus on Africa shows the most expensive cities for these centi-millionaires, and below are the ten cities listed.
PS: The data USD/m² refers to the average square meter price of a prime 200 to 400 square meter apartment in city/town.
| Rank | City | Country | USD/m² |
|---|---|---|---|
| 1. | Cape Town | South Africa | 5,200 |
| 2. | Hermanus | South Africa | 2,200 |
| 3. | Plettenberg Bay | South Africa | 2,200 |
| 4. | Marrakech | Morocco | 2,000 |
| 5. | Umhlanga | South Africa | 2,000 |
| 6. | Central Sandton | South Africa | 1,800 |
| 7. | Tangier | Morocco | 1,600 |
| 8. | Casablanca | Morocco | 1,200 |
| 9. | Cairo | Egypt | 1,200 |
| 10. | Nairobi | Kenya | 1,200 |
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