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The Cape Town office market continued to show stability in Q4 2014, despite challenging conditions. Occupied GLA increased by 5.0% y/y. The total Cape Town office vacancy rate declined to 9.0% in Q4 2014, down from 11.2% in Q4 2013. The CBD and Century City showed the highest growth in Grade A rentals. Few, if any, speculative developments are anticipated in present market conditions, however, these conditions present excellent opportunities for tenants who are being offered very attractive lease terms from landlords.
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10 February 2015