It seems property punters are starting to increase their weighting to SA-biased stocks again, albeit selectively. One of the few local mid-cap counters that has re-emerged on investor radars in recent months is Gauteng-focused Octodec Investments. Its share price is up 14% year to date, ahead of the SA listed property index’s (Sapy) meagre 2%.

Octodec is one of the biggest residential landlords in the Pretoria and Joburg CBDs. Its rental flat portfolio, aimed primarily at lower-to middle-income tenants, contributes 32% of the fund’s rental income. The company also owns a sizeable inner-city retail portfolio and several suburban shopping centres. Retail contributes 24% of rental income while offices, industrial buildings and other (auto dealerships, health care and hotels) contribute 16%, 7% and 11.5% respectively.

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