HIGHLIGHTS FROM THE CAPE TOWN OFFICE MARKET REPORT Q3 2016:
- Total office accommodation has seen a marginal increase of just 3.3% y/y from Q3 2015, despite numerous new building completions.
- The lack of new entries into the market suggests that demand is limited, therefore, landlords are competing for existing occupiers.
- Both Grade A and Grade P accommodation achieved a rental growth rate of 8,0% y/y% in Q3 2016, well above the prevailing inflation rate.
- The overall vacancy rate showed a marginal decline to 7,6% in Q3 2016 from 7,8% in Q2 2016.
The Cape Town Office Market Report is published in association with JLL.