Living in the African Country with the most Millionaires | The Polofields Waterfall
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- Опубликовано: 30 апр 2024
- Join me in Johannesburg, South Africa to explore this investment property. If you are interested in purchasing email me at lamideelizabeth@gmail.com
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Education - I studied Economic History at the London School of Economics
Work - I spent 4 years working in the Investment Bank in London & Dubai
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Can you guys believe this property is only £115k?! If you are interested in purchasing email me at lamideelizabeth@gmail.com. Don’t forget to sign up to my FREE webinar happening this Saturday - lamide-elizabeth.mykajabi.com/building-wealth-with-Lamide
People who live in polofields are definitely middle class people. But people who invest around those areas are wealthy and don’t live there. Most of the investors live in Sandton, Hydepark, Bryanston, Fourways, Cape Town, Steyn City and abroad!!
Yes I would definitely expect that
This is so true.
From Polofields perspective yes, but remember Midrand is vast consisting of areas such as Kyalami, Barbeque Downs, Waterfall Estate and Equestria Estate (just across Polofields where the real wealth resides the old money to be specific.
** Upper middle class. Polofields is more affluent and on the upper end of the spectrum. Prime location.
More like a working class with affluent careers 😏
Oh yes Waterfall is definitely where the new money is ❤❤
I love South Africa 🇿🇦! There's beautiful people over there, good food, great weather ! It's a beautiful 🏠! Thank you for sharing 😁 👍🏾👍🏾
You're right, Johannesburg is not a good place for airbnb type of investments. That title goes to Cape Town and Durban. Johannesburg is good for long term rentals
Waterfall is definitely where the money is.
Chief those people are just mere middle class they don't have money they live from hand to mouth, they don't own the means of production.
@@lwazisiyaka2287it fine,they don't have to be wealthy. The truth is,they are living in a nice neighborhood. They are definitely not living in Ivory Park, Tembisa.
Chief I can see were this is going now. I never said the neighborhood is not nice or they're are living in Tembisa or Ivory Park. The point is they're not wealthy as some may believe.
@@lwazisiyaka2287"chief" might actually be a queen, or a Pirate😂
I live in Ivorypark. And i have peace of mind. I don't worry about where will my rent money come from at the end of the month. Some are selling their bodies just to cover for rent money.Not all glitters are gold.
The Waterfall City land is owned by the Waterfall Islamic Institute (WIC), founded by the Mia family. The land is not allowed to be sold/transferred for religious reasons, however it can be leased, Which means the entire Waterfall City precinct is leasehold ownership, so every property bought in Waterfall City is subject to a 99year lease . . . .
usually when you buy an apartment you should expect to be a leaseholder but if it was a house then that would be a key consideration
After 99 years you pay 3.5% of the market value of your property at that time to renew your lease.
@ Well in 🇿🇦South Africa when you buy an apartment, its usually a freehold and its permanent, you can pass it on from generation to generation . . . Lease hold titles are common in the Uk🇬🇧 were the land is usually owned by the Church of England.
@@koalabear9110and where tf will you be after 99yrs 🤔
Dead (likely) but the point is also to ensure your family’s wealth grow over time by passing on the property to your kids/relatives
My first property 😮😅I literally had to re read that and hold in my excitement till i saw it coz i own shares in that property🎉😂😅 definitely can't afford to live there but i bought the easy properties shares 🎉🎉
Omg I love that! Did you use a specific platform to buy the shares?
@ yes I used easy equities. They have a small subplatform called easy property
Can’t wait for the webinar 🤩👏👏👏 Thank you lamide👏
See you there!
The view looks breathtaking! The weather looks great 👍🏽
Warterfall estate thank u very good content explore more of South Africa its so competitive and many hidden gems and diversity
Loved every bit of this video. Thank you for the knowledge and information 🙏
Thanks for watching 🥰
Come visit soon 🇿🇦🇿🇦🇿🇦
Looking forward to webinar
See you there 🤍
Thank you for this video, Lamide! Do you manage your property yourself in SA or do you have a property manager?
Finally, a video I've been waiting for. Travelled to SA recently and was shocked to discover how affordable housing and cost of living is in general. My pound went so farrrr lol. If you invest in a good generator you are good to go because load shedding is real 😅
Happy to advise that meaningful progress has been made in dealing with the dreaded load shedding…hopefully you visit soon and…happy investing! 🇿🇦🇿🇦🇿🇦
The pound goes very very far! There are some buildings like the one I’m in atm that doesn’t have load shedding because they have the back up generators so you don’t even feel it!
@ Absolutely! I stayed in one apartment like the one you showed which had a back up generator and the other apartment didn't...it was then i was humbled lol. Anyway love the videos. Keep them coming girlie. Proud of you💞
@@fabianmanuel6432Great to hear!🙏🏾😊
You're Nigerian...?? @
Great content nje ngenjwayelo makwande
Thank you 🥰
Thank you for sharing your content is very educative.
Lamide Africa suits you🥰 cant wait for you to explore more of the continent and give us more investment info
Thank you! I definitely will be, let me know what countries you think I should visit x
@ was thinking Senegal, Ivory Coast, Uganda and The Caribbean.
Botswana! Definitely one you should look at investing into also Lamide
Ghana as well
@ You should definitely visit Kenya I can show you around...its even cheaper here (compared to SA). I invest in property here and my next stop is Dubai (hence the reason why I'm looking forward to tomorrow's webinar😍)
Sooo interested in this property ❤
Send me an email !
lease can you do more videos about South African properties!
I love this video!! Please more videos about investing in SA things like the process as an European etc… I’m looking to invest in SA in the future
Got you!
Make sure you’re on the webinar this Saturday, It’ll be helpful if you want to get into international investing x
You want to invest in SA in like what or what kind of investment would you like to do?
SA, and especially the Gauteng province, has AMAZING security estates. Your mind will be blown…and I’m only slightly biased 🇿🇦🇿🇦🇿🇦
You’re not European
I'm guessing R15-20k in rental. I'm from Botswana and very interested in property. SA was a good idea Lamide!
I’m hoping to come to Botswana soon!
Jheeeeze, you're in Johannesburg instead of Cape Town, salute!
Joburg is more Cosmopolitan, inclusive and more developmental than Cape Town with a GDP of $225 billion( twice the GDP of Kenya). Cape Town is scenic, laid back and very pretty with a GDP of $131 billion dollars so from that alone it should tell you which city region is developing faster.
Johannesburg is 2 times richer than Cape Town, has a good weather and more diverse. Your business is more likely to be more successful in Joburg than in CT, especially for black folks.
That’s where I wanna visit ❤
@@luthovellem865 hey can you put a point across without calling out another country i know sa is developed but i don't see the need for comparison
@@georgegichuki5656 it's a city not a country, read again
Lovely video. Have you been to view the Cascades? About 2 minutes from the Polofields, it’s a bee development and almost sold out.
Ooo no I haven’t, I’ll check it out. Thank you 🤍🤍
Check out Steyn City also...
Yupp now that’s an awesome place
115 000 pounds is R2 600 000 that's too much for an apartment rather get a free standing house
Exactly why foreign currencies should not be able to purchase land or property in SA.
I want a nice house in the nice part of town. I'm not really an apartment type of guy. I like the suburbs.
Hey !!
Thank you!! Great video !!
How much can we expect to rent monthly this type of property?
my guess😊
I Live there at the POLOFIELDS, get you a Ground Floor trust me its also easy when you have Groceries Special if its From MAKRO ( BULK Groceries )
I am considering this project for investment purposes. Do you have an idea of the rent this could bring?
@@obdxb apartment rent start at $900 a month for a 2 bedroom apartment, then for a 3 bedroom apartment it costs $1 000
You should go to Cape Town and see the difference then you will want to fully reside there
I’ve been to Cape Town before, but I’m going next week again 😊 I do still prefer JHB tho, I’m not really a beachy type girl
Ohh nice.. 😮 how much a month does these apartments go for a month? ( In USD)
$500
Hello.
Great video Lamide, I love love Polofields. I definitely wouldn't recommend investing in SA property while living abroad but I'm guessing You stay in SA which is great. I wish you could emphasise that yes your money goes a long way here but only if you live here! I'm a South African working abroad, I love investing in my country but only because it's home and intend on staying there again. Once those Rands get converted back into your own currency (after monthly expenses paid) it really isn't that amazing as it would be while being back in SA. #cheers
Hey, yup it’s a good point and I teach this in my course!
U nigerian?
I'm curious given South Africa's history is SA also the country with the most millionaires of African heritage? I'd be curious about the distribution based on race and ethnicity in SA as well as other post-colonial African countries
Yes, a very important distinction - but also see billionaires in Kenya and Tanzania who are Indian origin. It’s a continent wide issue.
This is an interesting question actually I haven’t looked into it 🧐 I’m sure many will be from other African countries just residing in SA, as-well as the White South Africans and those of Indian Heritage from what I’ve seen so far but I’ll look into it
Yes. The second largest black middle class in the world after the US. Most of the residents of these developments that you're looking at are black including the high end expensive real estate. It's only in Cape Town where that scenario would be different but not in Joburg. For every 1 White owned estate house there are 8 or 9 black owned in the same estate. Joburg has a population of just 5,7 million people and has a GDP of $225 billion so the city has built up one of the most affluent black middle classes in the world. Compare that with a city like Lagos with 16 million people and a GDP of $80 billion. Joburg has the largest Porsche dealership in the World, the majority of their customers are black.
@@luthovellem865Impressive. But, I'm curious how it has the largest porsche dealership in the world when there are other wealthier cities elsewhere outside the continent.
@ thanks! It will be interesting to understand as well (to your point) the break down of foreign national Black Billionaires vs Black national Billionaires.
Ps I'll be on your Sunday call. It's a bit rough for US timezone but I'll be there 😅
115 or 150k? Price of house
£115 😊
Nah...this is definitely not where d money is..checkout Midstream ridge when u got tym.and Its also in midrand
SA Millionaires do not live in block of flats 🙃they live in something called a mansion. Polofields are for the middle class in South Africa
Great point. I don't think a lot of us really understand what the class stipulations mean. For instance I just learnt recently that to be considered middle class you essentially need to have about R5 million worth of assets or money in the bank. So this means that a lot of people that think of themselves as middle class are actually working class which is something different from middle class.
You missed the point 😊. She is talking about her investment and that the area she is in is where most millionaires are, that is Jhb
No one is saying they live in block of flats lol, I said in the first line that they live in South Africa referring to the country not the development.
@lebo3793 thank you! 🤦🏾♀️😅
@@ronm4385false….
“Middle class
The 'Middle class' group includes households earning R22 000-R40 000 per month. Although the group is four-and-a-half times smaller than the Working poor segment, their combined spending power is greater. This group also has a greater likelihood of having more than one earner in the household (42%). A characteristic of this group, compared with poorer segments, is that they are likely to possess a high level of education. Over 50% of households contain an adult with a tertiary qualification.
Furthermore, while poorer segments are overwhelmingly Black African, nearly 50% of this segment is made up of other races. This group is more likely to have access to private vehicles than the poorer segments, which means that they have more choice and flexibility in terms of where they shop and the entertainment opportunities available to them. This also has all sorts of other implications for marketers who need to be cognisant of the ability of consumers in this segment to transport goods, shop around and explore locations beyond traditional public transport routes.
Upper-middle class
The 'Upper-middle class' group comprises households earning R40 000-R75 000 per month. There are only 800 000 households in this segment, which is equivalent to around 4% of all South African households. This segment exposes the huge disparities in income inequality. With an average household income of over R60 000, the Upper-middle class account for nearly a quarter of all consumer spending power. Over half of this segment is white and nearly 70% of households include at least one adult who has a tertiary qualification.
The racial breakdown of this segment has shifted over the last decade and the proportion of Black African households has increased significantly. Marketers targeting this segment have to continually shift their focus and strategies to ensure they also appeal to new entrants in the segment.
Top end
'Top end' households earn over R75 000 per month and account for just over 1% of all South African households. In addition to income inequality, this group highlights the correlation between educational attainment and income. Nearly 80% of all Top end households include an adult who has at least an undergraduate degree. With an average household income of over R140 000, this segment accounts for around 14% of consumer spend. Over 60% of this segment is white and the most spoken language in the home is Afrikaans. Members of this segment often regard themselves as continually under time pressure. Indeed, a common desire is to eek out more time to pursue interests and commitments outside of work. As a result, they are likely to be receptive to products and services that offer a seamless experience and save time.”
That’s cheaper than I expected🤔
So u going to buy?
❤❤❤
20K rands
Pretty good! It was around that range
We call them modern day concentration camps or graduates residents..
Oo that’s interesting, as a historian concentration camp doesn’t really have the best connotations but I see where that would come from
Imagine paying $200 k for 60 sqm unit in congested area with no privacy, you have been scammed ,White people are are winning i hope it's not financed ...
True that there’s no privacy, it wouldn’t be for me personally m, it seemed to be a nice place for kids though
your pretty
Johannesburg is def not the place to invest into property, it is cheap because there is an over-supply and massive semigration is taking place to Cape Town and its surrounding coastal towns... Property in Cape Town is more expensive and holds it value, whereas Johannesburg property is a bit riskier
I’m not sure I understand your comment do you mind explaining a bit more ? Sorry I am not SA so I’m not familiar with everything currently going on.
You obviously don't know anything about investing for cash flow.
You probably are one of those property investors that think of in terms of capital appreciation primarily.
You still have a lot to learn.
Not really. Cape Town is only more expensive because of overseas people buying property there.
The semigration has been overhyped because more than twice as many people are still moving to Gauteng than the Western Cape.
wild guess maybe £1100?
Pretty good!!
No city in Africa has more dollar millionaires than Lagos Nigeria. Most of "South Africa's" dollar millionaires are foreigners or non-black Africans. This IS NOT the case with Lagos Nigeria... I recommend you take a look there!
Those "non-blacks" are South Africans and identify as such. FYI SA has 18 000 black SAn dollar millionaires, educate yourself and stop thumb sucking.
Not everything is a completion. Johannesburg is home to the most dollar millionaires on the continent as a fact, whether they are black native South Africans is another point. Sure Lagos may have more black, fully Nigerian millionaires but that’s not the point I’m making in this particular video. Maybe I’ll explore that in another one
there are around 18 000 BLACK dollar millionaires in South Africa versus only 9 800 in Nigeria as of 2023…
😂😂 why the competition ….?
Fun fact Nigeria is actually positioned to overtake Egypt by 2030.. even Egypt has less dollar millionaires @ 16 000 so Nigeria actually in 3rd pace… and we are talking NATIVE african and not of European descent
And by City;
1. Johannesburg
2. Cape town
3. Cairo
4. Nairobi
Then Lagos at #5
Most affluent black people are in Johannesburg therefore its a logical assumption that their wealth would be centralised in that general area…
You're mixing two things: number of dollar millionaires and number of black dollar millionaires. South Africa has more dollar millionaires than anywhere in Africa. That's an undeniable fact. Whether the majority are blacks is an entirely different topic, which isn't the scope of this video. Another different topic is whether the if the number of black dollar millionaires in South Africa surpasses those in Nigeria.
@@uchemoses5793they do surpass Egypt and Nigeria in #2 & 3 respectively….
millionaires do not live in polofields, middle class people that could get a home loan live there… and a little tip if you going to buy there you going to struggle to sell after.
I did not say millionaires live in Polofields, please listen to understand and not respond
South Africa has the most Millionaires in Africa? I thought that was Nigeria. My question is are they including wealthy white people in that equation?
They way you guys like discrediting South Africans by using the term "white South Africans" in everything said, is showing how you guys are. And for your information continue to comparing black South Africans to the whites who had generational wealth from Apartheid Government. And guess what? We do have black Millionaires imagine? From no generational wealth to this? To us South Africans that count!
Most millionaires in South Africa are black.
It is a popular misconception to claim they aren't.
Apparently Nigerian has more billionaires but South Africa more millionaires 😊
It turns out South Africa has more billionaires and millionaires than any other African country. Egypt is second in both categories.
They hv left the country. Most millionaires are leaving
Property is not it, roi 🙋🏾♂️🤦🏾
F U use credit the roi is great
Can I just say as a proud Nigerian how much I hate seeing our people go to South Africa? Why can't you come to Nigeria where your ancestors are now? You are busy feeding our enemies instead of helping us to defeat those wicked people
I was in Nigeria just last year, there is a video on my channel, did you watch it 👀 Why are you making other Africans your enemies 😭 Hating someone because of the country they’re from is low vibrational & not fruitful on both sides. I’m not engaging with that on my channel, anyone who wants to have that beef can go to TikTok or Twitter where people love fighting, not here
😂😂😂😂
Hold your horses...
@@brendonfire3984 You will swallow that laughter I promise you. The people of Nigeria's hate for South Africa runs very deep.
We are not wicked nor ur enemy