Octodec Investments hit by rising residential vacancies
Property company saw its overall residential vacancy rate rocket from 6.7% to 17% amid pandemic lockdown
Diversified listed property company Octodec Investments has seen a 10 percentage points rise in vacancies in the financial year to August as Covid-19 hurts the residential property sector.
The real estate investment trust (Reit) has a portfolio of 277 properties, valued at R11.8bn. Within this portfolio it owns 71 residential properties that include 9,350 rental units...