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Q2 2017 Johannesburg Office Market Overview

In the last quarter, the country entered a technical recession and the business confidence index reached a record low since the 2009 financial crisis. This has dampened the Johannesburg occupier markets. It has also encouraged property owners to offer more incentives to attract and retain tenants. Office consolidations and new stock coming into the market have continued to increase vacancies. Nonetheless, there is still interest and take-up of smaller accommodation (200-500m²).

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