29.07.2011 - S.Africa: Commercial property - More offices stand empty
A number of business nodes have seen a further increase in empty offices in recent months, indicative of a stalling economy. In fact, SA’s overall office vacancy rate has now breached the 10% level for the first time since 2004, according to Sapoa’s office vacancy survey for the second quarter of 2011. Back in the early 2000s, the market was labouring under an oversupply of newly developed office buildings. This time around, rising vacancy rates are attributed to a general lack of demand, as cash-strapped companies put expansion plans on hold or downsize to save on monthly rental bills..............................................Full Article: Source
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