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Research

Report

Johannesburg Office Market Overview Q3 2015


The Johannesburg office vacancy rate declined to 11.3% in Q3 2015 from 12.4% in Q3 2014, despite additional supply in the market.
 
Although rental rates remained largely unchanged, Grade P accommodation showed a 5.7% rise in the average rental rate to R202/m2, depicting strong demand despite the unfavourable economic climate.

Tenants are showing a willingness to pay a premium for high quality accommodation that offers them improved efficiency. This remains a cost-saving decision, helping to reduce operational costs in the long term. 

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