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Johannesburg Office Market Overview Q3 2016

​South Africa's quarterly economic growth rate, along with increased business confidence in the quarter, painted a positive picture for the country’s economy. However, the office market certainly remains under pressure with slow growth in rental rates.

Overall, Grade A Johannesburg office rentals have seen the highest year-on-year growth rate compared to the other asset classes, with an overall average growth rate of 5.0%, while Grade B accommodation has seen a 2.9% growth rate. 

Vacancies, on the other hand, have had a marginal increase from 11.3% in Q3 2015 to 11.8% in Q3 2016, driven mainly by decentralised nodes as demand tends to prime nodes. 

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