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Cape Town Office Market Overview Q3 2015

Investor confidence showed improvement in Q3 2015 from the first half of the year with the majority of new developments being speculative in nature.

The overall vacancy rate increased slightly to 9.0% in Q3 2015.  However, recent activity will see a reduction in the next quarter’s vacancy figures once tenants, who have just finalised leases, have physically moved.

Grade A accommodation  recorded an average 6.4% y/y increase in gross rental rates, with Century City outperforming other nodes. The growing interest of corporates may see a continuation of increasing rental rates in the coming year.

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