This small South African coastal town is attracting millionaires
The latest wealth report identifies a new millionaire hotspot in South Africa, and it’s not in the location you’d expect.
Millionaires don’t always flock to obvious locations like big cities, flashy developments, or established luxury enclaves.
Sometimes their wealth quietly moves into unexpected areas—seaside towns known more for holiday homes and weekend getaways than for high-net-worth living.
One South African coastal region is now attracting more millionaires than any other area in the country.
The coastal town drawing in dollar millionaires
According to the latest Africa Wealth Report by Henley & Partners and New World Wealth, this area has experienced a remarkable 50% rise in both millionaires and centi-millionaires in recent years, making it the fastest-growing wealth hub on the continent.
The region now hosts about 1,700 millionaires and seven centi-millionaires.
Where is this discreet boom taking place? 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 continues to lead Africa’s wealth market, hosting 41,100 millionaires, 112 centi-millionaires, and eight billionaires—34% of the continent’s total.
The surge on the Whale Coast, however, highlights a shifting trend: lifestyle destinations with space, scenic views, and exclusivity are becoming just as attractive as urban wealth hubs.
For Hermanus, this marks a new chapter. The town’s beaches, including Voëlklip and Grotto, remain postcard-perfect, while the growing influx of high-net-worth residents is transforming the property market and solidifying its place as one of Africa’s most unexpected millionaire hotspots.