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The research team presents its Q3 2013 report on the Cape Town Office market overview. Main findings of the report are as follows:• Despite the delicate economic climate that continues to influence cautiousness in the office leasing market in South Africa, few selected nodes are experiencing moderate take up of office space. • The low growth environment is expected to keep office demand at low levels and will be driven mainly by corporate consolidations and marginal take up of quality office space, leaving secondary buildings with large vacancies particularly in the CBD. • Market conditions in the Cape Town office market remain under pressure characterised by increasing vacancies, moderate rental growth in a number of nodes and could be further compounded by additional new stock in the market.
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30 October 2013