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Over 18,000m2 of office accommodation was taken up in Q1 2016, indicating stable levels of office demand in Cape Town. The office market saw no change in the vacancy rate of 7.2% from Q4 2015. However, vacancies declined in Grade P accommodation, while marginal increases were recorded in Grade A and Grade B properties. Oversupply may be a real concern in the short term if demand begins to slow as a result of the decline in business confidence in the economy.
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17 May 2016