Millionaire hotspots don’t always follow the obvious routes of big cities, flashy developments, or established luxury enclaves.
Sometimes it flows quietly into unexpected corners – seaside places better known for holiday homes and weekend escapes than for high-net-worth living.
And one South African coastal stretch is now outpacing every other region in the country as a magnet for millionaires.
The coastal town drawing in dollar millionaires
According to the latest Africa Wealth Report by Henley & Partners and New World Wealth, this area has seen a staggering 50% increase in both millionaires and centi-millionaires in recent years, making it the fastest-growing wealth hub on the continent.
The region now counts around 1 700 millionaires and seven centi-millionaires among its residents.
So where is this discreet boom happening? On South Africa’s Whale Coast, specifically in the seaside town of Hermanus.
Once known almost exclusively for whale-watching and beach holidays, Hermanus has rapidly transformed into a wealth magnet and millionaire hotspot.
Its mix of natural beauty, laid-back coastal living, and increasingly sophisticated amenities is drawing in the country’s elite property buyers.
South Africa still holds its place as Africa’s largest wealth market, home to 41 100 millionaires, 112 centi-millionaires, and eight billionaires – 34% of the continent’s total.
But the Whale Coast’s surge shows a shifting trend: lifestyle destinations with space, scenery, and exclusivity are becoming just as desirable as urban wealth hubs.
For Hermanus, it’s a new chapter. The town’s beaches, like Voëlklip and Grotto, remain postcard-perfect, while the growing influx of high-net-worth residents is reshaping the property landscape, cementing its status as one of Africa’s most surprising millionaire hotspots.
Have you visited Hermanus or the Whale Coast in SA?
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