After years of denial, Deputy President Paul Mashatile has, for the first time, admitted to owning a R28.9 million home in Constantia - one of Cape Town's most exclusive suburbs - prompting renewed public demands for the full story.
The admission follows more than two years of official denials and has reignited debate about transparency among senior government figures SA Today .
Mashatiles Constantia estate features seven bedrooms, a private tennis court, a swimming pool and extensive manicured gardens. Property analysts note that luxury homes in this area routinely fetch prices in excess of R25 million, attracting both local elites and international buyers.
Financial experts estimate that servicing a mortgage on such a property would require monthly repayments of between R250 000 and R280 000. To qualify for this level of lending, an individual would need a consistent net income of around R1.2 million each month.
In addition to bond repayments, ongoing costs include municipal rates and taxes of approximately R20 000 to R40 000 per month. Private security, full-time staff and regular landscaping can add tens of thousands more to the annual budget.