- Sandton is an area within the metro of Johannesburg.
- Commercial property markets are valued differently, with office acquisitions occurring within the Johannesburg metro area.
South African Office Vacancy Rate Falls to Six-Year Low
What happened
The national office vacancy rate in South Africa fell to 11.8% in the third quarter, down from a peak of 16.8% in mid-2022, according to the latest South African Property Owners Association office vacancy survey. This improvement coincided with positive net absorption of almost 70,000m² during the quarter. Prime office vacancies remained tight at 4.7%, while average asking rentals in that segment rose to R234/m² a month.
From businessday.co.za
Why it matters
The market is showing signs of tightening as improving demand meets constrained supply. The recovery is described as broadly based, with vacancies easing across A-grade (9.5%) and C-grade (15.6%) offices, indicating firmer demand across different quality segments.
Commercial property markets are valued differently, with office acquisitions occurring within the Johannesburg metro area, which includes Sandton.
From businessday.co.za