After years of speculation, Deputy President Paul Mashatile has admitted ownership of a R29 million Constantia mansion in Cape Town.
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.
INSIDE PAUL MASHATILE’S CONSTANTIA MANSION
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…
HOW MUCH DOES THE DEPUTY PRESIDENT EARN?
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.
UPKEEP – HOW DOES HE AFFORD IT?
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.”
HOW DO YOU THINK PAUL MASHATILE IS ABLE TO AFFORD MULTIPLE MILLION RAND HOMES?
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1.
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