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Rising inflation with the notable depreciation of the Rand is a concern for retail margins in 2016. The weakening of the Rand also illustrates the reducing confidence in the South African economy with the sovereign credit rating at risk. As a result, cap rates could see retail property values declining in the year ahead. Successful retailers are those who recognise the growing price sensitivity of the South African consumer given the current economic climate, providing some opportunities on the demand side of retail accommodation. Vacancies in Johannesburg’s retail accommodation remain low, providing confidence for developers.
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09 February 2016