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Affluent South Africans and foreigners are pouring their money into trophy homes for a semblance of stability in tough economic times, driving a recent uptick in the sale of properties in the R10m-R100m bracket.
“On average, each ministerial house is valued at nearly R10m, which means that every ANC minister and deputy minister currently lives in two mansions (one in Cape Town and one in Pretoria) valued at a collective R20m all courtesy of South African taxpayers,” DA MP Leon Schreiber, said.