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eThekwini maintains the highest average vacancy rates in the country along with the City of Johannesburg, currently sitting at 12.3%. Vacancies are largely driven by demand, and the increased percentage has been influenced by corporates leaving accommodation in Westville and Hillcrest, as well as new speculative developments coming on board in the Umhlanga region. Surprisingly, the Durban CBD is once again attracting developer interest after a prolonged period of degeneration and high vacancies, with scheduled refurbishments in the node.
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01 June 2017