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The Johannesburg office vacancy rate saw an improvement to 11.3% in Q2 2015 from 11.9% in Q1 2015. The decline was driven mainly by take-up in Grade A accommodation.
Johannesburg continues to anticipate an additional 591,000m² of new developments, raising concerns of an over-supplied market. The average rental rate increased by a muted 2.9% y/y in Q2 2015.
The subdued office market provides an opportune moment for restructuring and re-strategising business models for both occupiers and investors.
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11 August 2015