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South African commercial property sector continues to struggle

Posted on 01 November 2012

Set against the backdrop of moderate economic activity and floundering business confidence, SA’s commercial property sector continues to struggle. This is according to property economist Erwin Rode inth e latest issue of Rode’s Report on the S.A. Property Market.
Office and industrial vacancies are for now unable to drop while growth in nominal rentals is finding it hard to beat inflation. In fact, in the second quarter of 2012, only prime office rentals in Pretoria (+1%) and Durban (+1%) decentralized could muster some growth in nominal rentals. In both Johannesburg (-2%) and Cape Town (-1%) office rentals in the suburbs were on average slightly lower than a year ago………………………………………..Full Article: Source


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