The Verdict: Unlikely
Below both thresholds, buying residence in South Africa is a long shot. Look at Skilled Migration, Retirement or Digital Nomad, which do not depend on capital.
The two routes are a net worth reported at around R12 million, plus around R120,000 on approval, for permanent residence; and a business contribution reported at around R5 million. Both are set by ministerial notice, with no reduced tier and no pooled or financed version.
Skilled Migration suits you if your occupation is on the critical skills list. Retirement needs around R37,000 a month from pensions or investments, at any age. Digital Nomad needs R1 million a year from remote work for an employer abroad.
If you have a South African parent or spouse, check Citizenship by Descent or Marriage first; they beat all of these.