Office market still under pressure but fundamentals are improving
Slow economic growth and remote working are dampening demand for office space
19 December 2022 - 14:36
The fundamentals of SA’s office property market, characterised by high vacancies since early on in the Covid-19 pandemic, have improved slightly but the sector remains under pressure.
For the fourth quarter of 2022, gross rentals for decentralised A-grade offices increased 3% year on year. Rental growth for 2022 rose to 1.1% after a two-year fall due to the pandemic, according to the Rode Report for the fourth quarter of 2022...
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