Piece of paradise: Inside Paul Mashatile's R28m Constantia villa
The revelation was made in an official declaration of cabinet members' financial assets.
In addition to a seaside villa, Mashatile also owns a family residential home in Midrand and Kelvin in Johannesburg.
Paul Mashatie's luxury villa is located in Constantia Upper, a sought-after luxury neighbourhood in Cape Town.
Located in a cul-de-sac in Duntaw Close, Constantia Lodge is a 4000-square-metre property with eight bedrooms, five reception rooms, and enough garage space for ten cars.
It also boasts a cinema room, a bar, and an entertainment area, and views of the Constantia Valley and Kirstenbosch Gardens.
According to a luxury property rental site, staying at a property costs between R15 000 and R45 000 a night.
Take a look inside…
According to reports, Paul Mashatile earns R3,2 million per annum as Deputy President.
Mashatile also owns a R39 million mansion in Waterfall in Midrand, and another in Kelvin, Johannesburg.
Bar a pension fund and an Old Mutual investment trust, he has no other assets to declare.
According to luxury real estate agent Gary Phelps, Paul Mashatile's home comes with a hefty upkeep.
Speaking to eNCA, he stated that this included rates and taxes up to R40 000 a month, excluding essential maintenance services. A mortgage would cost at least a quarter of a million rand a month.
He added, 'You've got to earn about R1.2 million a month to qualify to buy this house.'
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 .
Subscribe to The South African website's newsletters and follow us on WhatsApp , Facebook , X, and Bluesky for the latest news.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
15 hours ago
- IOL News
Consumer take-home pay holds steady amid inflation and economic uncertainty
Consumer take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June 2025, after three months of moderation, due to the favourable inflation rate and expectations of an interest rate cut on July 31. Image: IOL / AI Consumer take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June 2025, after three months of moderation, due to the favourable inflation rate and expectations of an interest rate cut. However, while average salaries might increase by 5% this year based on current conditions, future earnings and unemployment levels may be adversely impacted by external factors impacting on the economy, an economist has warned. 'The nominal average take-home pay of R17 310 in June 2025 declined marginally by 0.1% on May's R17 325. However, it was still well above the R15 514 level a year earlier,' said BankservAfrica's Head of Stakeholder Engagements Shergeran Naidoo. He said the economic outlook had deteriorated in recent months even though the first six months of data from the index signaled that 2025 would, on average, be a good salary year. Inflation adjusted take-home pay moderated marginally by 0.2% month-on-month to R14 804 in June, compared to R14 827 in May, but was still notably up on year-ago levels. 'The significant moderation in consumer inflation in 2024 has had a positive impact on the purchasing power of salary earners and the scenario continues into 2025, with the latest headline CPI figure at only 3% for June 2025,' said Independent Economist Elize Kruger. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading After challenging years for salary earners, due to the sluggish local economy and the elevated inflation rate, 2024 turned out to be the best year since 2015, with an average real salary increase of 1.5%. 'With inflation forecast to average 3.5% in 2025 - unlike 4.4% in 2024 – and the broader industry suggesting an average salary increase above 5%, 2025 will be the second consecutive year of a real increase in earnings,' said Kruger. She said the favourable inflation environment had created ample scope for the South Africa Reserve Bank to cut interest rates further, in addition to supporting salary earners' consumption expenditure and softening the impact of global headwinds on the local economy. 'Carpe Diem Research Services forecasts a 25 basis percentage points cut at the Monetary Policy Committee meeting tomorrow, July 31, 2025,' said Kruger. She said this was likely to be the final cut in the current downward cycle. She said that even though 2025 had turned out to be a volatile year so far, real consumption expenditure had held up well, which was encouraging for an economy heavily reliant on consumer spending. 'Even with confidence levels slipping in the first quarter, the level of real final consumption expenditure by households was 2.8% higher compared to a year earlier. Early indications from StatsSA indicate that the performance continued in the second quarter, with real retail sales in the first five months of the year up by 4.3%,' she said. However, there had been downward revisions to growth prospects - locally and globally - and high levels of uncertainty, fueling low confidence and a pause on investment decisions. 'This could affect employment levels and earnings in the coming months, in an economy with an already high unemployment rate of 32.9%,' said Kruger. Additionally, tensions between the US and South Africa, coupled with uncertainty over the tariff landscape beyond August 1, presented a growing concern for the economy and its trade outlook, she said. Visit:
IOL News
17 hours ago
- IOL News
How Deputy President Mashatile's R65 million properties contradict his income
Deputy President Paul Mashatile has come under fire after declaring ownership of the property Constantia estate in Cape Town, which he previously said was owned by his son-in-law's company. Image: X Deputy President Paul Mashatile is facing scrutiny for declaring two luxury properties worth a combined R65 million, despite an annual income of just over R3 million. Among these is a Constantia estate in Cape Town valued at R28.9 million, which he previously claimed was owned by his son-in-law's company. Within a year, Mashatile has declared at least two properties, including the Constantia estate he once denied owning. What has further raised eyebrows is that in last year's register, Mashatile declared smaller properties: a residential plot in Midrand measuring 1,000 by 1,200 square meters, and another in Sandton, measuring 600 by 800 square meters. This year, Mashatile declared three large residential properties: - A 4,000-square-meter estate in Constantia, Cape Town - A 9,300-square-meter home in Waterfall, Midrand - A 3,000-square-meter property in Kelvin, Johannesburg The Constantia and Waterfall properties are together valued at approximately R65 million. The Constantia property alone, which Mashatile previously denied owning, was confirmed by him to be worth R28.9 million. The Waterfall property is reportedly valued at R37 million. Mashatile previously said the Constantia property is registered under a company owned by his son-in-law, Nceba Nonkwelo, and was purchased in May 2023. Previously, in an October 2024 media statement, his office claimed he owned no properties in Cape Town, except for a house in Kelvin that he and his late wife purchased through a bank loan. The declarations have reignited public debate about the wealth of public servants. Mashatile earns R3.16 million annually following a 2.5% increase gazetted by the Presidency in April 2024. This includes a basic salary (60% of the total package) and R120,000 per year in non-pensionable cash allowance. Last year, the Presidency approved a 2.5% salary increase for ministers, the deputy president, deputy ministers, members of parliament, and other public representatives, effective retroactively from April 1, 2024. Other perks of office include government-funded housing, vehicles, travel benefits, and VIP protection services, all funded by taxpayers. Despite these benefits, critics argue it remains unclear how Mashatile could afford such high-value properties on his official salary alone. Mashatile's office has consistently denied that he personally owns the luxury properties. With the Waterfall case, his spokesperson Keith Khoza said that the home was purchased jointly by his sons and son-in-law, Nceba Nonkwelo, through a normal bank loan and is used as a family residence due to its enhanced security. The office also denied reports that his sons, Thabiso Mashatile and Tinyiko Mvelase, received tenders from departments Mashatile once oversaw while in the Gauteng government. 'No provincial or national department under the Deputy President's oversight has ever awarded, been accused of awarding, or investigated for awarding tenders to any companies linked to his family,' Khoza said. Khoza also denied past claims that Nonkwelo is under investigation by the Hawks for funding the Constantia purchase, saying that he is a businessman from an established entrepreneurial family. That loan and the related project were investigated by the Gauteng Department of Human Settlements in 2023. 'The Deputy President had no involvement in the loan, which was issued during his tenure as Minister of Arts and Culture and not while he was in the Gauteng government,' said Khoza. Meanwhile, questions remain about how Nonkwelo acquired money to purchase a nearly R30-million home in Cape Town. Democratic Alliance leader John Steenhuisen laid criminal charges in February 2024 at Cape Town Central Police Station against Deputy President Paul Mashatile. The charges are related to allegations of corruption, nepotism, and patronage, with Mashatile alleged to be the ultimate beneficiary. Get your news on the go, click here to join the Cape Argus News WhatsApp channel. Cape Argus
The Citizen
17 hours ago
- The Citizen
Family carries coffin into KZN bank to protest delayed funeral payout
A grieving family brought a dead body in a coffin into Capitec Bank at KwaDukuza Mall on Tuesday in protest over an alleged funeral insurance payout delay. North Coast Courier reports that, according to the family, they filed the claim last Wednesday and were initially told payment would be processed within 48 hours. They were later informed funds would only be available by August 22, nearly a month later. Feeling helpless, the family made the drastic decision to take the deceased to the bank to highlight the emotional and financial burden caused by the delay. The incident shocked shoppers and staff, drawing concern and sympathy from onlookers. A 43-year-old woman, sister of the 25-year-old deceased, expressed deep disappointment in the bank. 'We have to bury my sister this Saturday. Since they say they will only pay on the 22nd of next month, we brought her body to prove she has passed. I am worried because my whole family is insured with this bank.' This is not the first time such an incident has occurred in KwaDukuza. In 2019, a family from Madundube took a body to an Old Mutual branch under similar circumstances. Old Mutual said the claim had already been processed but acknowledged delays and apologised. KwaDukuza Mall management distanced itself from the matter. 'This was a private dispute between the family and Capitec Bank, which is an independent tenant operating within the mall premises,' said mall manager Siyabonga Tembe. Capitec Bank had not responded to requests for comment at the time of publishing. Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal. Read original story on
