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Employment in the financial and business services sectors improved by a marginal 0.3% q/q in Q4 2014, contributing to a 1.1% increase on a y/y basis. Office demand remained muted under the prevailing uncertainty in the economy, leaving rental rates largely unchanged during this time. Office supply totalled at 9.4 million m2 at the end of 2014, a notable 10.0% (855,756m2) rise from Q4 2013. The Johannesburg office vacancy rate declined to 11.3% from 12.4% in Q3 2014 and from 12.2% in Q4 2013.
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10 February 2015