Cape Town Office Market set for Rental Growth in 2017

Cape Town Office Market Report Q4 2016 Vacancies

Source: JLL/Baker Street Properties

 

Cape Town Office Market Q4 2016  | Highlights from the report:

  • Global confidence in the City of Cape Town has reflected in two global rankings, getting the city off to a positive start in 2017. Cape Town featured in the Financial Mail’s FDI Intelligence report, ranking 21 in the world for its FDI strategy, Invest Cape Town. The city also featured 37th in the world as a city where property investors should invest, according to report produced by Wealth X, surveying investment activity by global high net worth individuals.
  • Cape Town has seen growing interest from global occupiers including DSG and the Norwegian Investment Fund, while KPMG and EY renewed their commitment to the city.
  • Although investor and occupier confidence is strong, one of the major challenges is the lack of large office units within quality buildings that are attractive to large occupiers.
  • Both rental and vacancy trends suggest continued rental growth in the Cape Town office market. This will create some optimism for investors as we begin 2017. The economic outlook has improved from 2016 which is likely to further stimulate demand.

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