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Cape Town office vacancy rate increased slightly in Q3 2018, to 7.3% from 7.0%
in Q2 2018. However, closer inspection of the figures shows that the increase
was largely driven by a rise in supply rather than a decline in demand.
Building completions included The Halyard, which added 16,000m2 of
office accommodation, at a time when demand is not showing much growth. With
2019 being an election year, activity is likely to slow in the country’s office
market, as occupiers adopt a wait-and-see attitude to the political situation.
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02 December 2018