Annien Borg sells homes in the Boland and Overberg, and she sees the same calculation play out again and again: foreign retirees weighing what their money can buy against how they want to live. Increasingly, in the “Golden Triangle” towns of Paarl, Stellenbosch and Franschhoek, the answer points toward gated estates, private healthcare and outdoor living within easy reach of Cape Town.
“These three towns offer a lifestyle in spectacular surroundings that is hard to beat,” said Borg, who heads Pam Golding Properties in the Boland and Overberg. She said demand for established lifestyle estates remains strong, and buyers are increasingly willing to pay a premium for what those estates offer.
The numbers back her up. The Africa Wealth Report 2026, cited by BusinessTech, found the Cape Winelands recorded 55% wealth growth over the past decade, making it one of Africa’s fastest-growing dollar-millionaire hotspots. The report also described the region as Africa’s second-largest billionaire hub after Cairo, and predicted further growth in lifestyle destinations including the Winelands.
For the buyers themselves, price matters as much as scenery. Pam Golding Properties reported in September that the buyer pool includes local residents, returning expatriates, families and retirement-age buyers, with particularly strong demand in the R4 million to R8 million range. Homes in some Paarl estates start at around R3.75 million, according to BusinessTech. Three-bedroom properties at Val de Vie start at just below R7 million. In Stellenbosch, new developments such as Newinbosch are selling homes from about R3.75 million to R6.5 million.
South Africa’s comparatively favourable exchange rate is a further draw, allowing foreign retirees to access luxury property at prices considerably lower than those in major global markets. That dynamic is visible across the wider luxury market: BusinessTech reported in July, citing Lightstone data, that foreign buyers accounted for about four in 10 South African home sales above R20 million.
Meanwhile, the interest is not confined to the Winelands. Sunday Times reported that popular destinations for international buyers include Cape Town, the Boland and Overberg, with Franschhoek, Stellenbosch and Paarl among the preferred locations. The publication also reported that the Department of Home Affairs has received more than 5,000 retirement-related applications from foreigners from more than 100 countries since 2020.
That influx is arriving as the country tightens its immigration framework. BusinessTech reported earlier this year that proposed changes to the retirement visa system include a minimum age requirement and higher financial requirements, a development that could shape who is able to make the move in the years ahead.
For now, though, property specialists expect demand to continue as buyers seek security, scenery, amenities and relatively affordable luxury. Borg said the towns have seen remarkable growth in recent years, with more new developments planned. Whether the proposed visa changes will slow the flow of retirees remains an open question.
Follow African Insider on Facebook, X and Instagram.
Picture: Copilot.
For more African news, visit Africaninsider.com.
Compiled by Betha Madhomu.