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The overall vacancy rate in Johannesburg showed a marginal increase to 11.9% in Q1 2015, up from 11.3% a year ago in Q1 2014. However, this is attributable to an increase in supply rather than a decline in demand as tenants show an increased preference for newer Grade P accommodation. The development pipeline will see an additional 430,000sqm being added to overall stock within the next two years.
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25 May 2015