Standard Bank, Africa’s largest lender by assets, says ultra-rich Africans with at least $50 million in investable assets are increasing their property purchases. Both outlets report that these buyers are seeking to preserve wealth and diversify holdings, with some also aiming to generate rental income. The Bloomberg report frames the trend as part of a broader strategy by high-net-worth individuals to allocate capital into real estate as a store of value. News24 adds that South Africa’s ultra-rich double their property buying over the course of a year, indicating acceleration in that market within the same broader pattern across the continent. The figures cited tie the ultra-rich threshold to $50 million (or R812 billion), but neither source provides detailed segment breakdowns of locations, property types, or financing methods. Both articles attribute the findings to Standard Bank’s assessment and present the increase as a rising preference rather than a one-off purchase pattern.