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Johannesburg Real Estate Market Overview - Q4 2011

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​Jones Lang LaSalle South Africa presents its Q4 2011 report on the Johannesburg commercial real estate market. Main findings of the report are as follows:

  • The backdrop to the final 3 months of 2011 saw mixed economic data with a contraction in domestic GDP, improvements in manufacturing production as well as marginal improvements in business and consumer demand. Despite these improvements in business confidence, the South African economy is set to face tougher times in the coming year, proving that it is not necessarily immune to the problems faced by the global debt crisis.
  • Improved take-up in rentals contributed to minimal increases in rental growth and reduced vacancies in some of the more prominent nodes in the Johannesburg office market.
  • The industrial market also experienced improved activity, mainly in prime areas particularly within the Eastern areas of Johannesburg, with occupiers settling for secondary grade stock at the expense of softening rentals. The demand was largely realised in the small standard units market.

 

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